Renault Samsung to cut jobs via voluntary retirement

SEOUL, Nov. 21 (Yonhap) -- The South Korean unit of French automaker Renault SA said Friday it plans to cut jobs through an early retirement program as part of the French parent company's efforts to reduce costs.

Renault Samsung officials did not clarify how many workers the company would
slash, but indicated some 600 senior office workers opted to take the early
retirement program.
An official at Renault Samsung said the company "doesn't have immediate plans to
lay off workers at production lines, but some positions may be rearranged."
The move, which has been widely expected as automakers in South Korea are
grappling with slumping sales amid sluggish domestic demand and fears of a global
recession, is part of Renault's plan to cut 4,000 jobs worldwide, Renault Samsung
officials said.
Renault Samsung, South Korea's second-smallest automaker, was created in 2000
after the French automaker acquired a controlling 80.1 percent stake in the
bankrupt Samsung Motor from Samsung Group, the nation's biggest industrial
conglomerate.
Renault Samsung employs about 7,600 workers in South Korea.
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