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it home reported on september 3 that according to a report by korean media etoday on september 2, lg display received news of voluntary retirement from production workers this year, and a total of 1,400 people were found to want to retire (퇴직).

lg display is reportedly cutting jobs on a large scale to reduce labor costs. as it expects to suffer another large operating loss this year, the age for applying for voluntary retirement has also been significantly reduced from the 40s last year to the 20s.

the report mentioned that as of june this year, lg display had received voluntary retirement applications from production workers aged 28 and above with more than three years of service. a total of 1,400 voluntary retirees from the paju and gumi factories were accepted, including 990 from the paju factory and 410 from the gumi factory.

the voluntary retirees account for about 5.12% of lg display's total full-time employees of 27,291. as lg display's production workers number about 17,700, accounting for about 65% of the total number of employees, the industry generally believes that the proportion of voluntary retirees among production workers is large.

it home noticed that lg display's regular employee number in 2022 was 28,998, which has decreased for two consecutive years, including 27,716 in 2023 and 27,291 in 2024.

as there are many retirees at lg display, the local government of south korea has also increased its support. according to reports, the paju employment center decided to hold a special lecture on employment. it is rare for a local government to hold a special lecture on employment for those who are about to retire.

lg display's consolidated sales in the second quarter of this year were 6.71 trillion won (it home note: currently approximately rmb 35.657 billion), and its net loss was 47.08 billion won (currently approximately rmb 2.502 billion).