Large Korean companies shed jobs during the pandemic

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Large Korean companies shed jobs during the pandemic

Large Korean companies have cut their combined workforce by more than 1 percent over the past two years amid the coronavirus pandemic, a corporate tracker said Tuesday.
The number of workers employed by 313 out of the country's largest 500 firms by sales came to 1.24 million as of end-September this year, down 1.02 percent, or around 12,800, from two years earlier, according to the Leaders Index.
These companies removed some 18,200 regular jobs over the cited period, while increasing the number of non-regular workers by about 5,400.
Women took the brunt of the job reductions as they accounted for 67 percent of those laid off. Male workers took up 74 percent of their combined workforce as of the end of September.
Pharmaceutical firms, brokerage houses, information and technology companies, electric and electronic businesses, and state corporations added jobs, while trading firms, distributors and communication companies reduced their payrolls.
IT and electric and electronic companies hired around 8,900 more workers during the two-year period, while retailers, wholesalers and distribution firms cut nearly 11,300 jobs.
Samsung Electronics posted the largest job increase with 8,606, followed by top automaker Hyundai Motor with 2,018 and SK hynix with 1,550.
Lotte Shopping registered the biggest job decrease, of about 5,100, trailed by top multiplex chain CJ CGV, with around 3,700, and supermarket operator GS Retail, with some 1,800, according to the Leaders Index.
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