Lotte On, the e-commerce platform of Lotte Shopping, is implementing a voluntary retirement program.
According to the retail industry on June 14, Lotte On announced the program to its employees, targeting those with more than three years of service. The application period will remain open until the end of this month.
Lotte On stated, "Upon receiving approval for voluntary retirement after internal review, employees will receive a lump sum payment of up to 12 months' salary," adding that the company will also provide 10 million won in educational support for one child per employee. A company representative noted, "We decided to carry out this voluntary retirement program to restructure our workforce and enhance our competitiveness in the rapidly changing e-commerce market."
Lotte On was launched in 2020 as the integrated online mall for Lotte Group's retail business. In the first quarter of this year, Lotte On reported sales of 27.2 billion won and an operating loss of 5.8 billion won, attributed to intensified competition among major e-commerce companies affecting its performance.
Previously, Lotte On conducted two rounds of voluntary retirement in 2024, citing the need to secure sustainable competitiveness as the reason for those initiatives.
* This article has been translated by AI.
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