Home / Knowledge / News / Textiles / Layoffs come back to haunt Chinese textile sector
Layoffs come back to haunt Chinese textile sector
18
Apr '12
The latest statistics reveal that among more than 1,000 listed companies that have published annual reports, 345 companies have laid-off around 176,500 staff in total in 2011.

Workers and staff from the household appliances, textiles and automotive industries are the hardest hit due to the layoffs.

The Chinese textile sector has been one of the hardest hit by the specter of lay-offs as textile and garment exports to traditional overseas began tapering off mid-2011 onwards.

Chinese exports from the sector rose just 6.9 percent in the first two months of this year, far lower than a 21.3 percent growth over the same period last year.

Garment maker -Younger has reduced more than 40 percent workers, its net profit fell nearly 30 percent in 2011. One of the reasons for massive layoffs is decline in orders.

The model of export-led economic growth in the past ten years has been unsustainable, so it is imperative that enterprises switch from volume-oriented growth to establishing brands and adopting technological innovation, advice experts.

Fibre2fashion News Desk - China


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X