Chinese conglomerate HNA Group plans to reduce its workforce by 100,000 people in 2018.
Bloomberg News reports, citing a report. Among other things, the cuts will be made in operations and personnel management. The Chinese also intend to reduce the companies they plan to sell in order to deal with the large debt that has eluded the company for a long time.
HNA is the main owner of hotel operator Rezidor REZT +0.83%.
The company's shares are suspended from trading in China and will remain so until March 23.
Source: finwire
