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[Alpha Biz=(Chicago) Reporter Kim Jisun] According to the business community on the 27th, LG Electronics recently received applications for voluntary retirement for employees aged 55 or older and those who have performed poorly for years. The company plans to conduct individual interviews and pay up to three years' salary to those eligible for voluntary retirement depending on the period of service and the remaining period until retirement.
Previously, LG Electronics conducted voluntary retirement in March last year. As last year, the company explains that it is for a virtuous cycle of manpower in the organization rather than restructuring, and new recruitment and investment will continue regardless of voluntary retirement.
Some believe that the recent sluggish demand due to the global economic slowdown may have also affected it. LG Electronics surpassed 80 trillion won in annual sales for the first time in history last year, but its annual operating profit fell 12.5 percent year-on-year. In particular, in the fourth quarter of last year, its flagship business was generally sluggish and its operating profit plunged 90.7% year-on-year to KRW 69.3 billion.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
