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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Shinhan Card has launched another voluntary retirement program just seven months after its previous round.
According to the financial industry on Jan. 26, Shinhan Card has been accepting applications for voluntary retirement from employees with at least 15 years of service from Jan. 23 through Jan. 28. There are no restrictions on job rank or age.
The company is offering the same compensation package as in the previous program. Eligible employees will receive severance equivalent to 24 months of base salary, with up to an additional six months’ pay depending on years of service and position.
Shinhan Card previously implemented voluntary retirement programs at the end of 2024 and in June last year. The repeated measures are widely interpreted as reflecting management’s assessment that the company’s current organizational structure makes it difficult to overcome worsening business conditions and declining profitability.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
