Renault Samsung Presents Voluntary Redundancy
23 January, 2021
Renault Samsung features started acquiring applications for voluntary redundancy amid dire leads for its continuing businesses in Korea.
A complete of 4,200 workers who have worked for the carmaker for more than two years meet the criteria to apply.
"We have a much posted the initial operating loss found in eight years after creation and revenue fell to the cheapest levels found in 16 years this past year," Renault Samsung explained. "We 're going into emergency mode to spend less."
Before this month Renault Samsung decided to release 40 percent of its 50 executives while the remaining ones decided to a 20-percent pay lower. The business's union in a statement said, "Top management personnel are in charge of this crisis plus they want to leave. Do not move the blame to frontline union workers."
Renault Samsung has almost nothing to do at the moment after the parent provider stopped producing the Nissan Rogue here this past year over dwindling demand and frequent battles with the union.
Lee Hang-gu at the Korea Automotive Technology Institute said, "The Renault group is restructuring its businesses centering about Europe and China. If the Korean plant can't boost profitability, it could end up needing to close."
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