Homeplus Implements Voluntary Retirement Amid Management Struggles

Homeplus, which is struggling to normalize its management, is implementing a voluntary retirement program.

Homeplus sent official notices regarding the voluntary retirement to the Homeplus branch of the Mart Workers' Union and the Homeplus General Union today (October 7).

Applications for voluntary retirement will be accepted from today through October 22 for employees working at the Homeplus headquarters and its stores.

The terms include the payment of unpaid wages, Chuseok bonuses, and severance pay.

The retirement date is set for the end of this month, and the company stated that severance pay will be disbursed by November 14.

However, no separate severance package or consolation money will be provided to encourage voluntary resignation.

Homeplus previously met with each union on September 15 to brief them on the company's management status and mentioned voluntary retirement as part of its management normalization measures.

It is reported that Homeplus has recently failed to generate its expected sales and has also been unable to find a buyer for its hypermarket business.

"The company is doing its utmost for normalization following the approval of the rehabilitation plan, and we intend to focus on stabilizing the current overall operating environment through structural innovation," Homeplus stated.

(Photo: Yonhap News)
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