SEOUL, April 5 (Korea Bizwire) — South Korea’s four major travel agencies have cut nearly half of their workforces over the past two years in the wake of the coronavirus pandemic, data showed Tuesday. The four players — Hana Tour, Modetour Network, Yellow Balloon Tour and Very Good Tour — had a combined headcount of [...]
SEOUL, July 29 (Korea Bizwire) — South Korea’s large businesses have cut nearly 12,000 jobs in the wake of the coronavirus outbreak, a corporate tracker said Wednesday. According to data from CEO Score, the number of subscribers to the country’s state pension fund at 498 large corporations fell by 11,880 between February and June. The [...]
SEOUL, July 8 (Korea Bizwire) — A flood of job cuts unleashed by the coronavirus outbreak has been sweeping the South Korean movie theater industry amid the prolonged fallout from the pandemic. Lotte Cultureworks, the entertainment unit of retail giant Lotte Group, said Wednesday that it has asked some employees to resign as part of [...]
SEOUL, Dec. 9 (Korea Bizwire) — Major local banks have been offering or plan to offer voluntary retirement programs to their workers as part of restructuring efforts amid a greater application of digital-driven technology, industry sources said Sunday. Nonghyup Bank announced a voluntary retirement program last month. A total of 610 employees applied for the [...]
SEOUL, Jul. 25 (Korea Bizwire) — Since the announcement last week of a 16.5 percent hike to the minimum wage that was met with cheers and praise, some South Koreans are now expressing worries over possible job cuts in the wake of the increase, according to a big data analyst. Despite the highest wage hike in [...]
SEOUL, April 21 (Korea Bizwire) – Hyundai Heavy Industries Co., the world’s largest shipbuilder by order backlog, will cut more than 10 percent of its workforce this year as part of its restructuring efforts, industry sources said Thursday. The Ulsan, South Korea-based shipbuilder is planning to announce its detailed self-help measures, including the planned job [...]
SEOUL, Nov. 19 (Korea Bizwire) – South Korea’s top conglomerate Samsung Group has shed more than 5,000 jobs over the past year, data showed Thursday, reflecting its struggle to cut costs amid a prolonged economic slump. The key affiliates of South Korea’s iconic conglomerate saw their combined workforce reach 212,331 as of end-September, compared with [...]