Homeplus Opens Voluntary Retirement Applications for Employees in Busan, Ulsan, and Gyeongnam... "For Voluntary Applicants Only"
Purpose of Organizational Health Improvement
Severance Pay Equivalent to 18-20 Months of Maximum Average Monthly Salary
Asiad and Centum City Branches, Mega Food Market Live
Homeplus is accepting voluntary retirement applications from employees in the Busan, Ulsan, and Gyeongnam regions.
According to Homeplus on the 27th, this voluntary retirement is aimed at improving organizational soundness through structural reform due to the prolonged and gradually worsening manpower supply imbalance in the respective regions. It will be implemented only for employees who voluntarily apply for retirement. A Homeplus representative stated, "Since this is not a forced voluntary retirement, if there are no applicants, it will not proceed," and added, "We are not considering additional voluntary retirements."
The eligible applicants for voluntary retirement are employees who have worked for more than 10 years at stores in the Busan, Ulsan, and Gyeongnam regions. Those who take voluntary retirement will receive a consolation payment of 18 to 20 months’ worth of their average monthly salary in addition to the statutory severance pay.
With domestic demand sluggish for several years due to high inflation and economic recession, and political and social instability causing a sharp rise in exchange rates and a downturn in the real economy, the distribution industry, which is sensitive to economic conditions, has been directly affected, influencing this decision as well.
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A Homeplus official stated, "Along with structural reform to improve organizational soundness and strengthen competitiveness, we will further expand future investments for sustainable growth, such as converting the Asia-d branch and Centum City branch, key stores in the Busan, Ulsan, and Gyeongnam regions, into 'Homeplus Mega Food Market Live.'"
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