Lotte Hotel Implements 'Voluntary Retirement' After 4 Years to Enhance Organizational Efficiency

Base Salary for 32 Months, Reemployment Support Fund, and Child Education Expenses Provided

Lotte Hotel & Resort announced on the 6th that it will implement a workforce reallocation and voluntary retirement program as part of enhancing organizational efficiency. This is the first voluntary retirement program by Lotte Hotel & Resort in four years since the COVID-19 pandemic in 2020.

Lotte Hotel & Resort plans to allocate talent appropriately according to the characteristics of each chain hotel and reorganize overlapping tasks and roles within the organization that arose from the integration of the hotel and resort divisions last year.

Aerial view of Lotte Hotel & Resort Gimhae. Provided by Lotte Hotel & Resort.

The application period for the voluntary retirement program is from November 6 to 22, and it will be conducted through one-on-one interviews and a fair process. Eligible applicants for voluntary retirement are employees with more than 20 years of service, employees aged 50 or older, or long-term employees at the same rank. Applicants will receive 32 months’ worth of base salary, reemployment support funds, and tuition support for their children.

A representative of Lotte Hotel & Resort stated, “The voluntary retirement program was implemented to reflect the needs of employees preparing for new challenges and to innovate the workforce structure in response to the rapidly changing hotel market environment,” adding, “We will provide appropriate compensation and the best support to employees who choose to participate in the voluntary retirement program in recognition of their hard work.”