LG Uplus Executes First Voluntary Retirement Since Merger Launch
Up to 3 Years of Severance Pay Provided
[Asia Economy Reporter Cha Min-young] LG Uplus is implementing voluntary retirement for the first time in 12 years since its merger launch in 2010.
On the 10th, LG Uplus announced that the company is accepting voluntary retirement applications from non-union employees aged 50 or older who have worked for more than 10 years. General union members can also apply after leaving the union if they wish.
The company plans to provide a severance package equivalent to up to three years of salary to those who take voluntary retirement. It is also known that tuition fees for children will be provided. Applications are open until the 30th of this month.
LG Uplus explained, "Due to recent requests and inquiries from employees regarding voluntary retirement, we decided to implement it for those who wish to do so in order to support them."
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LG Uplus was formed in 2010 by the merger of LG Telecom, Dacom, and Powercom. There has been no case of voluntary retirement since the merger launch. It is known that a similar attempt was made once in 2020 but was temporarily suspended due to internal opposition.
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