 |
[Alpha Biz=(Chicago) Reporter Kim Jisun] The LG Chem will implement a transition deployment for employees of its information technology (IT) business division. The move comes after the company recently sold off its IT material division, which has deteriorated profitability. Special voluntary retirement is also accepted for employees who want to.
According to industry sources on the 27th, LG Chem agreed on a plan to deploy the transition and implement voluntary retirement with labor unions in Ochang and Cheongju, North Chungcheong Province, where the IT-based business unit is located, on the 25th. Subject to the application are those who have served in production technology for more than five years in the IT material division. However, employees with less than six months left until retirement this year were excluded.
Retirement benefits and student expenses for children will be paid to prospective retirees. Housing support and incentives will be provided to employees who have applied for conversion to other workplaces.
The voluntary retirement is a follow-up to LG Chem's sale of polarizing plates and related materials business among its IT material division's film business last month. Recently, LG Chem is reorganizing its structure focusing on new growth businesses such as battery materials for sustainable growth.
Hundreds of people are said to be eligible for the conversion and voluntary retirement following the sale. Retirement benefits are divided according to the number of years of service for each employee. Employees who have served for at least five years and less than ten years shall be paid 30 months' worth of basic salary as of the retirement date, and 60 months of basic salary shall be paid as consolation money for those who have served for at least ten years.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
