LG Display to Implement Voluntary Leave for Office Workers

Fixed Salary 50% Scheduled for Payment... Expected Around 100 People
For Workforce Operation Efficiency Purposes

[Asia Economy Reporter Han Ye-ju] LG Display will implement a voluntary leave system for office workers.

According to the industry on the 19th, LG Display plans to accept voluntary leave applications from all office workers starting on the 25th. Those who wish to participate can take leave for 3 to 12 months, receiving 50% of their fixed salary during this period. The scale of office worker leave is expected to be around 100 employees.

Since November of last year, LG Display has also been implementing paid leave for production workers. Additionally, as part of business restructuring, the company is pursuing plans to transfer some personnel to affiliated companies.

LG Display Paju Plant exterior view. [Photo by LG Display]

This measure is interpreted as a self-help strategy to improve workforce efficiency and restore financial soundness.

LG Display reported an operating loss of 488.3 billion KRW in the second quarter and 759.3 billion KRW in the third quarter of last year. Securities firms have forecasted that the company likely recorded an operating loss in the 600 billion KRW range in the fourth quarter as well.

In response, LG Display has recently been reducing production of liquid crystal display (LCD) TV panels and restructuring its business around organic light-emitting diode (OLED) technology. At the end of last year, it ceased production of TV LCDs at its Paju plant.

This content was produced with the assistance of AI translation services.