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fast technology reported on september 4 that according to media reports, in the face of continuous financial losses, lg display has adopted a large-scale voluntary resignation program to reduce labor costs.

the latest developments show that more than 1,400 employees have chosen to resign voluntarily, accounting for approximately 5.12% of the company's total employees. these employees will receive compensation of up to 36 months' salary, as well as additional support for their children's education expenses.

lg display recently closed its m3 production line in gumi city, south korea, which mainly produces it-type lcd module products. about 700 employees of the gumi factory will be reassigned to other locations, and a voluntary resignation plan has also been provided.

to further reduce costs, lg display launched an additional voluntary layoff program in june for manufacturing employees aged 28 and above, following previous separation programs for employees aged 40 and above and 35 and above.

lg display's financials show that the company had consolidated sales of 6.71 trillion won, or about $4.85 billion, in the second quarter of this year, an operating loss of 93.7 billion won, and a net loss of 470.8 billion won.

it is worth mentioning that due to the large number of people leaving their jobs, the local government of south korea will hold special employment lectures for these people.