[Capture News] Samsung, SK, and Lotte to reduce the number of employees on a large scale...Year-end restructuring on Bloody Tears Day

Samsung Electronics wrote a letter of apology for its first-ever earnings in the third quarter of this year, saying it was "sorry" for its lower-than-market expectations.

The semiconductor chief's unusual apology is being interpreted as a preview of the personnel shake-up with a high-intensity overhaul.

Inside and outside the industry, it is predicted that about 30% of the number of executives will be reduced at the end of the year.

SK, which is losing weight due to the restructuring of the group, is rumored to have early presidential personnel appointments next month.

It is said that major affiliates have already received guidelines to reduce the number of executives.

On top of that, SK Telecom recently raised its employee retirement compensation to up to 300 million won and is receiving voluntary retirement for the first time in its history.

There is also a strong demand for job cuts in the distribution industry.

Lotte's convenience store affiliate, 7-Eleven, has started to reduce its workforce significantly from online and duty-free stores to offline, including voluntary retirement for the first time in 36 years.As each company tries to reduce its size due to the deterioration of the
business environment, the sharp wind of personnel management at the end of the year is expected to be hotter than ever.

I'm YTN's Choi Ayoung.

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Caption News: Yoon Hyun-kyung