LG HelloVision is offering voluntary retirement for the third consecutive year.
According to industry sources, LG HelloVision will accept applications for voluntary retirement from all current employees, including those on leave, until October 7. The retirement date is set for October 31.
The severance pay will vary based on age and years of service. Employees aged 50 and older with more than 15 years of service will receive three times their annual salary, while those with 5 to 15 years of service will receive 2.5 times their salary, and those with less than 5 years will receive 1.5 times. For employees under 50, the severance pay will be 2.5 times, 2 times, and 1 time their salary, respectively, based on the same years of service. If an employee has less than three years until retirement age, they will receive their full remaining salary for that period.
Support for children's education is also available, with 5 million won for middle school students, 7 million won for high school students, and up to four semesters for college students.
Additionally, a new start support fund of 5 million won will be provided, along with a re-employment program worth 2 million won.
LG HelloVision stated, "In light of the deepening crisis in the cable TV and broadcasting market, this initiative aims to secure the company's financial health and normalize management operations."
* This article has been translated by AI.
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