Posted : 2021-06-02 11:20
The SsangYong Motor plant in Pyeongtaek / Yonhap
Financially troubled SsangYong Motor has offered unpaid leave and a wage cut to its employees in its efforts to stay afloat, industry sources said Wednesday.
SsangYong Motor, under court receivership, offered a two-year unpaid leave to half of its 4,732 employees, while demanding them to accept an extension of lower wages and suspended welfare benefits until June 2023, a person familiar with the matter told Yonhap News Agency over the phone.
The company also offered an additional 20 percent pay cut to executives whose wages have already been reduced by 20 percent, he said.