Qoo10

[Alpha Biz= Reporter Kim Jisun] Qoo10 and Affiliate Companies Begin Restructuring Amid Financial Disputes

Qoo10 and its affiliated companies, including those involved in unresolved payment issues with TMON and WEMAKEPRICE (also known as TIMEMARK), have initiated workforce restructuring measures.

Qoo10 Technology: Qoo10's tech subsidiary, Qoo10 Technology, is conducting a voluntary severance program, with layoffs scheduled for August 14. The company has already surveyed all employees regarding their interest in voluntary resignation. This move is intended to address the financial strain affecting the company, ensuring that affected employees can receive unemployment benefits even if severance payments cannot be fulfilled due to financial constraints.

Qoo10 Technology has functioned as a 'control tower' for several platforms, including TMON, WEMAKEPRICE, and Interpark Commerce, managing core functions such as finance and legal affairs across these platforms.

Interpark Commerce: Interpark Commerce is also implementing a voluntary resignation program from August 8 to August 11. Employees opting for this program will receive their August wages and paid leave until August 31. Those who do not apply for voluntary resignation will face a realignment of their roles within the company.

These restructuring actions reflect the ongoing efforts of Qoo10 and its affiliates to stabilize their operations and address financial challenges amidst a period of market volatility and internal financial disputes.

 

 

 

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