Lotte ON Conducts Second Voluntary Retirement Program... "Six Months' Salary Paid at Once"

For Employees with Over 2 Years of Service
"To Secure Sustainable Competitiveness"

Lotte On, the e-commerce business division of Lotte Distribution Group, announced on the 13th that it will accept applications for the second round of voluntary retirement following the one in June.

On the same day, Lotte On notified internally that it will implement the voluntary retirement program. Eligible applicants are employees with more than two years of service who joined before December 13, 2022. Applications will be accepted until January 6. Those who opt for voluntary retirement will receive a lump sum payment equivalent to six months' salary.

A Lotte On representative stated, “We have implemented the voluntary retirement program to secure sustainable competitiveness,” adding, “We plan to actively support employees who wish to retire by standing in their position and addressing their needs.”

Last year, Lotte On appointed Park Ik-jin as the new CEO and has been undergoing intensive structural reforms. In October, to reduce rental costs, the company relocated its headquarters from Jamsil Lotte World Tower to Samseong-dong.

This year, Lotte On has been focusing on improving its deficit. As part of profitability enhancement efforts, it is adjusting the composition of product categories with relatively low profit margins, while intensively strengthening high-margin vertical product categories such as fashion and beauty. Based on cumulative figures for the first three quarters of this year, the company’s sales amounted to 84.5 billion KRW, with an operating loss of 61.5 billion KRW. Compared to last year, sales decreased by 13%, while operating profit increased by approximately 3 billion KRW.

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