Coca-Cola Beverage Implements First Voluntary Retirement... Targeting Sales and Logistics Department Employees

"Voluntary Retirement to Improve Workforce Stagnation"

Coca-Cola Beverage, a subsidiary of LG Household & Health Care, conducted a voluntary retirement program for some employees last month. This is the first voluntary retirement since Coca-Cola Beverage was acquired by LG Household & Health Care.

According to the distribution industry on the 16th, Coca-Cola Beverage accepted applications for voluntary retirement from the 4th of last month for 15 days. The voluntary retirement candidates were reportedly employees born before 1971 working in sales and logistics departments.

Yonhap News

Coca-Cola Beverage provided a lump-sum retirement payment to voluntary retirement applicants, differentiated by age, ranging from six months to two years of basic annual salary. At the same time, they decided to support up to four semesters of tuition fees for employees' children. However, the scale of voluntary retirement applications was not disclosed.

LG Household & Health Care, the parent company of Coca-Cola Beverage, explained that "this voluntary retirement was conducted to improve workforce stagnation and create a virtuous cycle."