Workers at the troubled Daewoo Shipbuilding & Marine Engineering are crying foul over heightened pressure from the government and its creditors to further cut jobs and sell more assets, industry sources said Wednesday.

Daewoo Shipbuilding has been implementing large-scale self-restructuring measures since last year, including layoffs of 2,300 workers and asset sales, in return for financial assistance from its creditors led by state-run Korea Development Bank.

But its creditors and the financial authorities are pressing the shipbuilder to draw up a set of additional schemes by the end of the month to stay afloat.

The additional self-rescue plans may include a further cut in the number of executives and workers in its business divisions and a temporary shutdown of its shipbuilding docks.

"We make it clear that the government-led restructuring move should be stopped... we will fight against any moves to sacrifice our members," said the labor union at the shipbuilder.

Workers at other local shipyards such as Hyundai Heavy Industries are also voicing opposition against massive layoff plans as the financial health of their companies are not bad compared to Daewoo Shipbuilding.

Hyundai Heavy is moving to cut 10 percent of its workforce and sell non-core assets, and Samsung Heavy Industries Co. is set to submit its self-rescue plan to its creditors this week.

The country's top three shipyards suffered a combined operating loss of 8.5 trillion won ($7.21 billion) last year, due largely to increased costs stemming from a delay in the construction of offshore facilities and an industrywide slump.

But a huge chunk of the loss, some 5.5 trillion won, came from Daewoo Shipbuilding.

Also, Hyundai Heavy and Samsung Heavy swung to an operating income during the first quarter of the year, while Daewoo Shipbuilding suffered an operating loss of 26.3 billion won. (Yonhap)