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KOREA'S KT CORP TO CUT 5,500 WORKERS VIA EARLY RETIREMENT.
SEOUL, Oct 1 Asia Pulse - KT Corp. (KSE:30200), South Korea's largest fixed-line telecom operator, said Tuesday it will slash its workforce by about 5,500 through early retirement.
As part of its restructuring efforts, the company received early retirement applications from Sept. 19 until Tuesday from employees who have worked for more than 15 years.
Those leaving the company ahead of their legal retirement age will be given 45 months' wages plus other financial benefits in addition to their legal severance pay.
KT said the early retirement will take ...
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