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While it's always hard to know what's really happening from a news article, this looks potentially very bad for the employees. Apparently, the government requir
by dangle1 5y ago
While it's always hard to know what's really happening from a news article, this looks potentially very bad for the employees. Apparently, the government required Evergrande to reduce its debt burden, which it was depending on to fund the completion of already purchased apartments. Now the company is facing bankruptcy, with the employees facing the loss of their coerced investments. Again, it's hard to tell what the extent of the loan program was, but there are descriptions of individual employees in for the equivalent of six figures in USD.