Some 800 workers at Renault Samsung retire early

Renault Samsung Motors said yesterday that about 800 employees will leave the company after applying for a voluntary retirement program designed to cut staff after years of sluggish sales.

The Korean unit of French automaker Renault said that 14 percent of its 5,500 employees filed for the program, including some 350 production workers and 450 office workers.

Most will officially quit their jobs Friday.

The company said it has ended the retirement program for the time being.

The departing employees will receive a severance package equivalent to up to two years of their salaries depending on their positions and the length of time with the company.

Korea’s fourth-largest automaker said earlier last month announced that all salaried staff at the company, except for 1,000 in research and development, and design, could apply for the program.

Yonhap