KT announced during the conference call for the 2024 fourth quarter earnings report held on the 13th that among the 4,400 individuals targeted for KT's organizational restructuring last year, 2,700 fully retired and 1,700 transferred to subsidiaries.
Jang Min, KT's Chief Financial Officer (CFO), noted, "It is difficult to specify the amount of cost reduction effects (from the organizational restructuring). However, among the 4,400 individuals targeted for restructuring, 2,700 have completely retired and 1,700 have transferred to subsidiaries established by KT."
He added, "The 1,700 individuals who transferred to subsidiaries receive salaries at 70% of their previous pay, and the difference from their former salaries has been settled in a lump sum. Considering this aspect, we (KT) can estimate the reductions in payroll expenses and costs associated with those who have transferred to subsidiaries."