LG Display will carry out a voluntary redundancy program with the largest compensation on record.
According to the industry on the 8th, LG Display will begin accepting applications for voluntary redundancy from the 9th from production workers with at least five years of service and office workers with at least 20 years of service (or age 45 and older).
This voluntary redundancy program takes into account differences in how pay is calculated for production and office workers, and will provide severance compensation equivalent to up to three years of salary for both groups, depending on years of service. The company also plans to provide children's tuition support.
The program is open to employees who wish to apply, and final recipients will be confirmed after review. However, technical engineers under age 50 are excluded from this round.
Meanwhile, LG Display announced that afternoon decisions from wage and collective bargaining, including an average 3.7% pay raise and revisions to welfare programs.