POSCO, Which Worked '4 Days a Week Every Two Weeks,' Returns Executives to '5 Days a Week' Work Schedule

"From Executives to Foster a Sense of Crisis"

Earlier this year, POSCO, the first in the steel industry to introduce a 'biweekly four-day workweek,' is reverting to a 'five-day workweek' for executives only. This shift is analyzed as a transition to an emergency work system due to the global economic slowdown and worsening steel market conditions.

According to the steel industry on the 7th, POSCO recently announced on its internal online bulletin board that "the four-day workweek will be changed to a five-day workweek for executives only."

POSCO's four-day workweek system maintains an average of 40 working hours over two weeks, where employees work five days in the first week and four days in the second week.

However, this does not apply to production workers at steel mills working in a four-shift, two-team system. This was agreed upon last November through wage and collective bargaining between POSCO labor and management.

A POSCO official stated, "The intention is for management to work with a sense of crisis," adding, "There are no plans to expand the five-day workweek to general employees."

Currently, this system is implemented at POSCO Holdings, POSCO, POSCO Humans, and the POSCO Cheongam Foundation, and it is planned to be expanded to group companies such as POSCO International and POSCO E&C by the second half of this year.

Last year, POSCO recorded sales of 38.772 trillion KRW and an operating profit of 2.083 trillion KRW, representing decreases of 8.7% in sales and 9.2% in operating profit compared to the previous year. This performance worsened compared to 2022, when the steel mill was damaged by flooding caused by Typhoon Hinnamnor.