Samyang Group, a conglomerate with core companies in chemical compounds, meals, biopharmaceuticals, and packaging, has applied a voluntary retirement program concentrating on executives and workers approaching retirement age.
The group accepted voluntary retirement purposes from all office-level executives and workers throughout its subsidiaries from August to September this 12 months. Candidates for the voluntary retirement program had been chosen by means of complete consideration of standards together with years of service, age, and efficiency.
As compensation, the corporate supplied 30 months’ price of fundamental wage together with full tuition help for as much as 4 years per college-age baby. For these looking for reemployment, the corporate presents a six-month reemployment help service that gives help from related establishments.
This marks Samyang Group’s first voluntary retirement program implementation in six years since 2019. Thr group said, “We applied a ‘particular retirement’ program concentrating on workers approaching retirement age to advertise speedy company change and growth, and versatile organizational tradition,” including, “We count on this will even contribute to bettering youth employment charges by means of new hiring to fill positions.”
The corporate additional famous, “This voluntary retirement course of is unrelated to the group’s efficiency,” and “We’re protecting open the opportunity of institutionalizing this frequently whether it is deemed constructive for each the corporate and workers.”
