UPDATED. 2024-07-19 07:49 (금)
LGD to receive voluntary retirement applications next Monday
LGD to receive voluntary retirement applications next Monday
  • Jong Jun Lee
  • 승인 2019.09.20 22:12
  • 댓글 0
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Process to end in October

LG Display has laid out plans to streamline operations by receiving voluntary retirement for three weeks starting from Sept. 23. The announcement came a day the display maker named its new CEO, Chung Ho-young.
The company also said it would be trimming down the organization in general to undergo a facelift by the end of this year.

The voluntary retirement applies to those on the production side who have worked for 5 years or more. Once confirmed, the applicants will receive 36 months of salaries. LG Display is currently considering receiving such retirement plans from administrative workers for the LCD side as well.
“As we shift from the LCD business, whose profitability is quickly losing volume, to OLED, we have been trying to absorb the excess personnel at OLED and new businesses, but these efforts have hit a limit,” said LG Display in a statement.

It added that the voluntary retirement plans were the result of discussions between the company and labor union. It also said the firm would continue to invest in new talent.

The Elec is South Korea’s No.1 tech news platform.


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