October 19, 2016 / 2:26 AM / a year ago

Hanjin Shipping to cut 400 land-based jobs in South Korea

SEOUL (Reuters) - Hanjin Shipping Co Ltd said on Wednesday it plans to lay off about 400 land-based employees in South Korea in the near future as it tries to cut costs.

The shipper, which applied for court receivership in late August after creditor banks withdrew their support, had about 700 land-based employees in South Korea as of the second quarter of 2016.

Reporting by Joyce Lee; Editing by Edwina Gibbs

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