KBS in Crisis, Offering Voluntary Retirement... Accepting Employees with Over One Year of Service
Impact of Separate Collection of TV License Fees and Related Issues
KBS has initiated employment adjustments, including accepting applications for voluntary retirement. This is analyzed to be due to the management crisis caused by the separate collection of TV license fees, which is being fully implemented this year. On the afternoon of the 15th, KBS reportedly announced through its internal bulletin board that it is accepting applications for special honorary retirement and voluntary retirement.
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The special honorary retirement is targeted at employees with more than 20 years of service. The number of eligible applicants reaches 1,874. Those selected for special honorary retirement can receive up to 45 months' worth of base salary. The voluntary retirement is targeted at employees with more than one year of service. Those selected for voluntary retirement can receive up to 6 months' worth of base salary. According to compensation regulations, severance pay is also paid differentially depending on the remaining retirement age.
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KBS stated, "Due to the ongoing deficits and the scheduled separate collection of license fees, the corporation is facing an unprecedented financial and management crisis," and added, "To overcome this situation, we are accepting retirement applications as part of company-wide employment adjustments necessary for management."
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