LGD Office Workers Included... Offering Voluntary Retirement for the First Time in 5 Years

Voluntary Retirement for Production Workers in June This Year

LG Display will implement voluntary retirement for office workers for the first time in five years, following the voluntary retirement of production workers in June this year.

According to industry sources on the 6th, LG Display held a voluntary retirement briefing session for office workers by department on the same day and will accept applications for voluntary retirement for office workers with more than 5 years of service, aged 40 or older, or at the manager level or above, for two weeks starting from the 7th.

Voluntary retirees will receive severance pay equivalent to 30 months of their base salary and tuition support for their children.

LG Display Paju Plant view. Photo by LG Display

The company explained, "Idle personnel have emerged due to the termination of the large liquid crystal display (LCD) business and the suspension of operations at the Gumi plant," adding, "This is a measure to advance the organic light-emitting diode (OLED) business and optimize workforce efficiency."

LG Display plans to complete the voluntary retirement of office workers by mid-next month and carry out organizational restructuring and personnel changes in the fourth week of this month.