On August 18, Shanghai Shentong Metro Group announced a sudden “staff restructuring plan,” aiming to lay off 6,000 employees. The first wave affects about 2,000 workers, primarily those over 50, many of whom have been with the company for 20 to 30 years. The compensation package is straightforward: employees who agree to resign by September 30 will receive a severance based on their years of service, plus five months’ salary and a 10,000 yuan bonus, also known as the “N+5+10,000” plan.
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