RPT-Ssangyong management, union agree on layoff plan-report

Thu Aug 6, 2009 1:53am EDT

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SEOUL Aug 6 (Reuters) - Ssangyong Motor Co's (003620.KS) management and unionised workers have reached an agreement over the broad framework for a layoff plan, Yonhap news agency reported on Thursday.

Cash-strapped Ssangyong, which is the country's smallest carmaker and under court receivership, had been pushing to cut more than a third of its workforce of 2,600 in a bid to resuscitate the company. (Reporting by Seo Eun-kyung and Cheon Jong-woo; Editing by Chris Lewis )