Honda Motor Co. is slashing its full-time production workforce in China amid slumping sales in the market, with some 1,700 employees or over 10 percent of the total staff having applied for voluntary layoffs, sources familiar with the matter said Wednesday.GAC Honda Automobile Co., a joint venture between Honda and Chinese state-owned automaker Guangzhou Automobile Group, began soliciting for the early exit scheme earlier this month amid an intensifying price war in the world's largest auto market, where electric vehicles account for more than 20 percent of new car sales.The final figure fo…READ FULL ARTICLE
