Lotte Mart Announces Second Voluntary Retirement Program This Year for Employees with Over 8 Years of Service

[Asia Economy Reporter Lim Chun-han] Lotte Mart will accept voluntary retirement applications from employees of all ranks with more than 8 years of service until the 8th. This is the second time this year.

According to Lotte Mart on the 1st, there are currently about 1,200 employees with more than 8 years of service. This accounts for about 27% of the total 4,500 employees at Lotte Mart who are eligible for voluntary retirement.

Voluntary retirees will be paid severance pay equivalent to up to 30 months of their base salary depending on their length of service, and a lump sum reemployment support fund of 20 million KRW. Education expenses for up to two children will also be provided, up to a maximum of 10 million KRW.

Earlier, in February, Lotte Mart conducted its first voluntary retirement program since its founding, targeting regular employees with 10 or more years of service across all ranks.

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