"Overcoming Crisis Together"... A Capital Labor-Management Win-Win Agreement

Union Agrees to Suspend Industrial Action
A Capital Withdraws Layoff Notice
Up to 4 Months Unpaid Leave Implemented for Business Normalization

The labor and management of A Capital have agreed to jointly normalize the company. The labor union agreed to withdraw complaints and accusations filed as part of their dispute actions and to actively cooperate in the management normalization. A Capital also decided to retract the layoffs carried out in July.

According to A Capital on the 21st, the A Capital branch of the National Office Financial Services Labor Union signed a 'Labor-Management Win-Win Agreement for Management Normalization' with the management at the headquarters meeting room in Taepyeong-ro, Jung-gu, Seoul, in the afternoon.

Previously, the A Capital labor union had continued dispute actions since May in opposition to the management's solutions for normalization. After failing to find common ground in negotiations with management, an agreement was reached last weekend through mediation by the higher-level union.

According to the principle of good faith specified in the agreement, the A Capital labor union agreed not to engage in rumor-based complaints or slander that could negatively affect the management related to the company and shareholders.

Additionally, the union and the company agreed to implement sequential unpaid leave for all employees. This will be enforced for one year from the initial unpaid leave order date, with a maximum of four months per individual.

A Capital decided to withdraw the layoff notice issued on the 17th of last month. Furthermore, it was decided not to carry out layoffs for two years from the initial unpaid leave order date.

An A Capital official explained, "The union agreed to withdraw all complaints or accusations unilaterally filed based on unclear grounds to government public institutions such as the Financial Supervisory Service, Seoul Regional Employment and Labor Office, and other financial labor supervisory agencies, and to actively cooperate in the company's management normalization."

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