LOTTE Chilsung Beverage will carry out a voluntary retirement program for employees with at least 10 years of service.
According to the retail industry on the 6th, LOTTE Chilsung Beverage will accept voluntary retirement applications from all ranks from today through the 21st.
Eligible applicants are those born before 1980 with at least 10 years of service (hired before 2015 based on initial hire date).
The severance payment will be 20 months of the reference salary for 10–14 years of service and 24 months for 15 years or more. The reference salary is the amount that adds fixed allowances, bonuses, and variable allowances to the base salary.
For employees under the wage-peak system, the company plans to pay a severance amount equal to 40% of the remaining months of work. If there is a college student child, the company will also provide up to 10 million won per person in tuition and 10 million won in reemployment support funds.
Meanwhile, on the same day, LOTTE Chilsung Beverage disclosed that third-quarter operating profit was 91.8 billion won, up 16.6% from the same period a year earlier. Revenue was 1.0792 trillion won. Profitability improvements across all divisions helped the operating profit trend.