LG H&H said on the 21st it will carry out a voluntary retirement program for "sales and promotion staff" working in duty-free shops and department stores within its beauty division. The move is a personnel adjustment following the gradual pullback from offline stores such as duty-free shops and department stores.
LG H&H is accepting applications for voluntary retirement from the 20th to the 31st for some sales promotion and instructor positions in the beauty division. Those age 35 or older (born on or before Dec. 31, 1990) are eligible, including both current employees and those on leave.
Applicants will be notified of the screening results on the 3rd–7th of next month, complete resignation procedures and handovers on the 10th–20th of next month, and formally leave on the 21st of next month.
Those who opt to retire will receive 20 months of base salary and additional support funds. In addition, for those with school-age children, the company will provide tuition support of 5 million won for middle school, 7 million won for high school, and up to the equivalent of four semesters for remaining university semesters.
An LG H&H official said, "The company expects a gradual pullback from traditional offline stores such as duty-free shops and department stores, and has been carefully considering appropriate workforce management measures in response to future changes in the distribution environment," adding, "Accordingly, we decided to implement a voluntary retirement program in November to support a 'second life' plan for members of the company who wish to retire."