SK On Plans Voluntary Retirement... Unpaid Leave Support for 'Self-Development'

Amid the growing crisis in the battery industry due to the electric vehicle chasm (Chasm: temporary demand stagnation in a growing industry), SK On is expected to implement voluntary retirement.

According to industry sources on the 26th, SK On is expected to soon formalize details regarding voluntary retirement and unpaid leave. This will be the first time SK On implements voluntary retirement and unpaid leave since its launch in 2021.

The eligible applicants for voluntary retirement are those who joined before November last year, and SK On plans to provide 50% of the annual salary and short-term incentives for six months to those who apply.

They will also proceed with an unpaid leave program for 'self-development' that supports tuition fees for up to two years. Through this program, SK On is reported to support 50% of tuition fees for degree programs (bachelor's, master's, doctorate) for up to two years. If employees return to work after obtaining a degree related to their job, the remaining 50% will also be supported.

However, an SK On official stated, "Nothing has been finalized yet."

Since its launch in 2021, SK On has recorded losses for 11 consecutive quarters. As a latecomer in the battery industry, the transition to profitability has been somewhat slow, and the company is facing difficulties due to the contraction of the front-end industries such as the electric vehicle market, which is a major supply destination for batteries.

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