job cuts Archives | Be Korea-savvy
Despite Decent Earnings, Banks Move to Cut Jobs in Digital Era

Despite Decent Earnings, Banks Move to Cut Jobs in Digital Era

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 [...]

Hyundai Heavy to Slash Over 10 Pct of Workforce

Hyundai Heavy to Slash Over 10 Pct of Workforce

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 [...]

Samsung Cuts Jobs Amid Restructuring Efforts

Samsung Cuts Jobs Amid Restructuring Efforts

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 [...]