Shinhan Card will offer another voluntary retirement program about seven months after it carried one out in June last year.
According to the financial industry on the 26th, Shinhan Card has been accepting applications for voluntary retirement from the 23rd through the 28th. Regardless of rank or age, employees with at least 15 years of service are eligible. The company proposed 24 months of base salary as standard compensation, with up to an additional six months depending on years of service and rank.
Shinhan Card carried out voluntary retirement in June last year, followed by late 2024. The decision to proceed with back-to-back voluntary retirement just seven months apart was reportedly based on the assessment that the current workforce structure has limits in overcoming market conditions.