The Homeplus Co. union said for the first time that it is willing to tolerate the possibility of workforce cuts and other measures. Until now, the Homeplus Co. union had insisted on job security for all employees.
According to the retail industry on the 24th, the Homeplus Co. union recently said in a statement, "We know the merger and acquisition (M&A) process will not be smooth. We acknowledge that we will have to go through very painful steps, including restructuring." The union added, "We are not saying we should continue exactly as we are now without touching a single hair."
This is the first time the Homeplus Co. union has acknowledged the company's push for restructuring. Until now, taking into account the union's claims, the court has set "job succession" for employees as a condition for approving the merger and acquisition (M&A) before Homeplus Co. receives authorization.
In the retail industry, it was interpreted as stemming from heightened crisis concerns after Homeplus Co. recently failed to pay December wages on time. The Seoul Bankruptcy Court plans to issue a conclusion on Homeplus Co.'s corporate rehabilitation proceedings on the 29th.