Hanjin has announced they will try to cut staff by offering early retirement to employees with more than 10 years service.
From Trade Winds
A downturn in profitability has led to top South Korean shipowner, Hanjin, launching its first redundancy programme.
The company is believed to be targeting office staff in its liner shipping operation but the extent of the restructuring is currently unclear.
The container business is the largest in Hanjin Shipping, which operates a diversified fleet of some 200 vessels that also includes bulkers and LNG carriers.
South Korea’s MoneyToday website says Hanjin is seeking volunteers of more than ten years service to go from its domestic administrative staff.
It also describes the programme driven by a downturn in liner revenues as “voluntary retirement” implying older employees are the target.
click here for link