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Photo = SK on |
[Alpha Biz= Reporter Kim Jisun] SK On has announced its first voluntary retirement program since its launch, as reported by industry sources on the 26th. The company notified its entire workforce about the "New Chapter Support Program," which includes options for voluntary retirement and unpaid leave for self-development. Eligible employees are those who joined before November of last year, and applicants will receive 50% of their annual salary along with a short-term incentive.
The decision to offer voluntary retirement underscores the difficult market conditions facing SK On. The company posted an operating loss of 460.1 billion KRW in the second quarter of this year, marking its 11th consecutive quarter in the red. The loss is attributed to lower plant utilization rates, rising costs from the operation of a new plant in Hungary, and a global slowdown in demand.
In July, SK On declared an emergency management system, freezing executive salaries and cutting back on executive benefits and business expenses in an effort to return to profitability.
In addition to the retirement program, SK On is offering unpaid leave for employees seeking self-development. The company will cover 50% of tuition for employees pursuing a degree (bachelor’s, master’s, or PhD) during their two-year leave, and if they return with a degree related to their role, SK On will cover the remaining 50%.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
