SEOUL, Oct. 18 (Korea Bizwire) — China Eastern Airlines was found to have laid off South Korean employees, while those from other countries still kept their jobs, a lawmaker said Sunday. Rep. Chung Il-young of the ruling Democratic Party reported that the company, one of the major foreign airlines with a high proportion of South [...]
SEOUL, Feb. 27 (Korea Bizwire) — South Korean companies are engaging in preventive restructuring to offset the economic impact from the coronavirus outbreak. Even conglomerates, traditionally strong employers offering quality recruitment opportunities, are announcing a series of restructuring plans, adding to the fear already rampant in the labor market. Doosan Heavy Industries & Construction Co., [...]
SEOUL, Aug. 2 (Korea Bizwire) — More than 90 percent of small merchants plan to lay off workers because of the expected minimum wage increase next year that is disapproved by nearly all of them, a survey showed Wednesday. In the survey carried out by the Korea Federation of Micro Enterprise from July 21-28, 92.4 [...]
SEOUL, Jul. 18 (Korea Bizwire) — Samsung Heavy Industries Co. is seeking to cut its workforce and have employees return part of their salaries in order to cut costs, industry sources said Tuesday. Last year, the major South Korean shipyard unveiled a self-restructuring program that centers on cutting the workforce and having executives return part [...]
SEOUL, Jun. 1 (Korea Bizwire) — Coupang, South Korea’s No. 1 online marketplace, has come under fire for allegedly sacking nearly a tenth of its delivery staff, adding further woes to the money losing startup that won kudos for its bold investment in logistics, industry sources said Wednesday. On Tuesday, some 75 former and current [...]
SEOUL, Feb. 26 (Korea Bizwire) – A group of apartment guards facing potential layoffs took to the streets Thursday in protest of the apartment’s dismissal notification because of the introduction of a new electronic security system. Impending layoffs of security guards have been on the rise as apartment complexes across the country have already begun [...]
SEOUL, Jan. 6 (Korea Bizwire) – South Korea’s securities industry faces an unabated wave of layoffs this year as brokerages strive to bolster their bottom lines and cut costs amid a bearish stock market and growing online stock trading, experts said Wednesday. Over the past several years, local securities companies have been trimming their workforces [...]
SEOUL, Sept. 18 (Korea Bizwire) — South Korea’s No. 3 handset maker Pantech, which has been struggling to normalize operations, said Friday it plans to cut nearly half of its employees. Under the plan, around 400 staff will leave the company on Oct. 23, the company said. Pantech has been on the verge of bankruptcy [...]
SEOUL, March 18 (Korea Bizwire) – Ssangyong Motor’s trade union strongly condemned the company’s actions as it cut some of the “Locks of Hope” placed by activist citizens on the wired fence surrounding its Pyeongtaek plant. Citizens placed the locks on the fence in a gesture of hope for the resolution of labor disputes currently [...]