Great Wall Motors Denies Breaking Contracts With Fresh Graduates
Jiemian News reported on August 8 that, in response to rumors that Great Wall Motors had rejected fresh graduates, staff of the firm’s General Affairs and Personnel Department stated that it was impossible to confirm the authenticity of the news at present. Great Wall Motors said it currently has no layoff plans, otherwise it would not have recruited more than 10,000 college students.
Earlier, many fresh graduates allegedly posted on Chinese job-seeking social media platforms, claiming that Great Wall Motors had broken their school recruitment offer. The three batches of employees who joined in July and the first batch of employees who joined in August were involved, and the reason given by the company was that the department had been dissolved and could not be transferred, so the contract must be broken.
One web user posted that he was an undergraduate at a “Project 211” university and that he had received three offers at that time, choosing Great Wall because its headquarters was close to his home. However, on the second day of employment, he claimed he was notified that his contract was terminated. Another netizen wrote on a follow-up post on the platform topic: “I’m an 2022 graduate who had contracts broken by Great Wall Motors. I gave up on the postgraduate exam before and signed up directly with Great Wall Motors, but ended up being notified of the broken contract as soon as I joined the company. Now that the school recruitment period is over, it’s really hard to find a job.”
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Great Wall Motors is a world-renowned SUV and pickup truck manufacturer. It was listed in H shares and A shares in 2003 and 2011 respectively. By the end of 2021, the total assets of the company reached 175.4 billion yuan ($26.0 billion), and it owned five complete vehicle brands: Haval, WEY, ORA EV, Tank and Great Wall PICKUP.
In terms of business, Great Wall Motor sold approximately 620,000 units in the first seven months of 2022, a decrease of 12.58% year-on-year. In terms of car brands, from January to July, Haval sold about 350,200 units, down 21.96% year-on-year; the WEY brand sold 25,000 units, down 7.3% year-on-year; Great Wall Pickup sold about 155,700 units, down 18.41% year-on-year; the ORA EV brand sold 68,000 units, up 13.64% year-on-year; and finally, the Tank brand sold about 66,600 units, up 72.71% year-on-year.
Recently, Great Wall Motors released an announcement on its performance. It shows that the company expects net profit attributed to the parent company in the first half of 2022 to be between 5.3 billion yuan and 5.9 billion yuan, an increase of 50.20% to 67.20% from 2021. The net profit deducted non-recurring gains and losses attributed to the parent company owner’s was 1.8 billion to 2.3 billion yuan, down 19.07%-36.66% year-on-year.