South Korea. Homeplus launches voluntary retirement program
South Korea’s Homeplus announced on Oct. 7 that it has launched a voluntary retirement program as it seeks to cut fixed costs and stabilize operations after sharply reducing its store network during its prolonged financial difficulties. The troubled discount chain noted that it began accepting applications Wednesday and will continue through Oct. 22. Employees who participate are scheduled to leave the company Oct. 31. The retailer said that unpaid wages, Chuseok holiday bonuses and statutory severance payments for participating employees are...
