Lotte Hi-Mart is offering voluntary retirement for the first time in four years.
On November 5, the retail company announced that it would accept applications for voluntary retirement as part of its workforce restructuring efforts. This marks the first voluntary retirement program since 2022.
Employees who opt for voluntary retirement will receive severance pay based on their age and years of service. Those aged 50 and older can receive up to 30 months' worth of pay, while employees under 50 can receive up to 24 months' worth.
To assist employees in finding new jobs, the company will provide a separate reemployment support fund equivalent to three months' salary. Additionally, employees with college-aged children will receive 10 million won in educational assistance for each child.
Lotte Hi-Mart aims to strengthen its business competitiveness and create an agile organizational structure that can respond swiftly to market changes through this voluntary retirement program.
A company representative stated, "This decision is aimed at resolving workforce structural imbalances and creating a foundation for young talent to grow, thereby injecting new vitality into the organization."
In the third quarter, Lotte Hi-Mart reported an operating profit of 5.5 billion won, a 70.9% decrease compared to the same period last year. The net profit also fell by 83.9% to 2.3 billion won. However, sales increased by 0.3% to 654.5 billion won, marking the first sales growth in five quarters.
* This article has been translated by AI.
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