Hanwha Trade Division Implements Voluntary Retirement for All Employees
[Asia Economy Reporter Park So-yeon] Hanwha Trading Division, which has experienced worsening performance due to the novel coronavirus infection (COVID-19), is implementing voluntary retirement for employees with more than one year of service.
On the 25th, Hanwha Trading Division announced that it is conducting voluntary retirement to stabilize the business amid concerns over a decline in global trade volume and prolonged domestic demand stagnation. The voluntary retirement targets employees with more than one year of service, including those who joined in the first half of last year. This is effectively a voluntary retirement targeting all employees.
Hanwha Trading Division has been posting losses from the fourth quarter of last year through the second quarter of this year. Due to sluggish business conditions, falling oil prices, and COVID-19, it also closed six overseas offices in the first half of this year.
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