Daewoo Head Denies Plan To Fire Thomson Managers

I was very surprised by the information published in Liberation on November 4 according to which Daewoo apparently plans to shed 350 people at Thomson Multimedia, Bae Soon-hoon said in a statement. This information does not reflect Daewoos position. It could only be the result of a misunderstanding, he said.

Daewoo wants to buy TMM, a unit of Thomson SA. Liberation quoted Daewoo Electronics number two, Yang Jae-Yeol, in Seoul as saying, There are 350 people who do nothing at TMM and we will have to simplify the organisation, he added.

The managment is top-heavy and it will only be by getting rid of this burden that we will be able to make very good quality products at a competitive price, he was quoted as saying. Bae said Daewoos policy has always been clear and repeatedly stated, that it will maintain and create jobs in France.

 

Daewoo has neither the means or the possibility to make a judgment on the organisation of Thomson Multimedia, it said. The French government has chosen conglomerate Lagardere to buy the Thomson electronics group for a symbolic FFr1.

Lagardere would sell loss-making TMM for a franc to Daewoo and Laagardere would retain defence unit Thomson-CSF and merge its missile maker Matra into CSF. The plan to sell Thomson and break up the group has stirred a political storm in France, with the Socialist and Communist groups in the lower house National Assembly demanding an inquiry.

Trade unions are also opposed to the Thomson sale.