Most Popular
-
1
S. Koreans' happiness rising slowly but surely: presidential panel
-
2
No. of depression patients exceeds 1m in 2022
-
3
Seoul subway fare to rise 12% beginning Saturday
-
4
Races tighten in Seoul as parties battle for Assembly control
-
5
Korean Air to submit new merger plan to ease antitrust concerns
-
6
6-year-old Uzbek girl found dead in Daegu
-
7
Korea to begin experiment with central bank digital currency
-
8
US House votes to remove Speaker Kevin McCarthy
-
9
US calls on China to encourage N. Korea's return to diplomacy
-
10
22 Chinese apprehended after illegal entry attempt
According to news reports on Friday, the cosmetics giant announced through an internal notice that it would accept applicants for voluntary retirement from employees who have worked for the company for more than 15 years.
“We posted an announcement this afternoon that the firm would accept applicants for voluntary retirement. We have not decided on the number of people yet,” an official said.
Employees with 15 years or more will be paid compensation by adding five months’ salary to their years of service. In other words, employees who have worked for 15 years will receive 20 months of compensation. Employees who have worked 20 years or more will be paid 40 months’ worth of compensation.
Amorepacific is in need of cost savings due to continued deterioration of its management as the growth of duty-free shops and sales in China have been faltering.
By Shin Ji-hye (shinjh@heraldcorp.com)
More from Headlines
