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[Alpha Biz=(Chicago) Reporter Paul Lee] LG Household & Health Care will start voluntary retirement for the first time since its establishment.
According to LG Household & Health Care on the 2nd, the company will receive voluntary retirement applications from this day to the 14th. The target is △ the head of a division or team aged 50 or older;
△ The position of the head of the division has been more than 7 years and the position of the △ team leader has been more than 10 years. The retirement date is the upcoming 30th.
In addition to "legal severance pay" as a condition for voluntary retirement, the company proposed "a lump sum retirement" that pays a basic salary of up to three years depending on the year of birth and the payment of "children's school expenses" to support students from middle school students to college students.
It is the first time since its foundation that LG Household & Health Care, which once did well enough to draw an operating profit growth curve for 60 consecutive quarters, has carried out voluntary retirement. The reason is not irrelevant to poor performance. LG Household & Health Care recorded 145.9 billion won in operating profit in the first quarter, down 16.9% from a year earlier. Sales rose 2.4 percent to 1.6837 trillion won during the same period, but net profit fell 15.3 percent to 96.3 billion won.
Last year, its annual operating profit fell below KRW 1 trillion for the first time since 2017. Operating profit fell 44.9% on-year to 711.1 billion won last year, sales fell 11.2% to 7.1858 trillion won and net profit plunged 70% to 258.3 billion won.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
