Yanolja, Which Turned to Deficit, Implements Voluntary Retirement Program

Travel and accommodation platform companies Yanolja and Yanolja Cloud Korea are implementing voluntary retirement. This is interpreted as an effort to improve management efficiency through workforce reduction following recent losses amid intensified competition in the industry.

According to the distribution industry on the 18th, Yanolja and Yanolja Cloud Korea announced through an internal email that they will implement a voluntary retirement program.

In the email, Yanolja explained the background of the voluntary retirement, stating, "To achieve Yanolja's vision of leading the digital transformation of the global travel industry, we judged that it is necessary to build an organization that can flexibly respond to changes in the external environment." They added, "Yanolja is currently at a turning point in the major trend of digital transformation in the travel industry with the emergence of generative AI platforms. We ask for your understanding of this series of changes, and the management promises once again to do their best to build sustainable competitiveness."

The compensation plan proposed by Yanolja was confirmed to be a lump sum payment of four months' salary or three months of paid leave.

On a consolidated basis, Yanolja's sales in the second quarter of this year increased by 17% to 168.4 billion KRW compared to last year, but it turned to a loss with an operating loss of 16.5 billion KRW.

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