(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] POSCO, which had previously introduced a four-day workweek, has decided to return to a five-day workweek for its executives. This decision was made in response to the deteriorating steel industry conditions due to the global economic slowdown and the aftermath of excess supply from China, prompting the company to enter into emergency management mode.

Earlier, starting from January of this year, POSCO had implemented a bi-weekly four-day workweek for its office employees. Under this system, office employees, based on an eight-hour workday and a 40-hour workweek, could take an entire Friday off in the second week if they fulfilled their total 80-hour requirement over the two-week period. However, this policy did not apply to shift workers in the 4-2 shift pattern at the steel mills, as it was an agreement reached between POSCO management and labor unions through wage and collective bargaining negotiations in November last year.

According to POSCO on the 6th, the transition to a five-day workweek for executives was announced through the company's internal online bulletin board.

POSCO's operating profit last year decreased by 68.7% to 2.83 trillion won over two years, and its operating profit margin also plummeted from 16.7% to 5.3% during the same period.

 

 

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