Lotte ON Conducts First Voluntary Retirement... Targeting Employees with Over 3 Years of Service

Lotte On, the e-commerce division of Lotte Shopping, is implementing voluntary retirement for the first time.

According to industry sources on the 5th, Lotte On announced voluntary retirement for its employees on the same day. Eligible employees are those with more than three years of service who joined before June 7, 2021, and are currently employed or on leave. The application deadline is until the 14th.

After internal review and approval of the voluntary retirement, employees can either receive a lump sum payment equivalent to six months' salary upon retirement or take six months of paid leave before leaving the company.

Lotte On was launched in 2020 as an integrated online mall for Lotte Group's distribution business units. It has faced difficulties, incurring losses of around 100 billion KRW annually. Last year, it recorded an operating loss of 85.6 billion KRW, and in the first quarter of this year, it posted a deficit of 22.4 billion KRW.