KT to cut 5,992 jobs via early retirement plan

KT-job cuts


SEOUL, Dec. 28 (Yonhap) -- KT Corp., South Korea's biggest fixed-line telephone
and broadband Internet operator, said Monday it will cut its workforce by 16
percent through an early retirement program.

KT predicts the move will reduce labor costs by about 460 billion won (US$393
million) annually, while the retirement plan will cut its operating profit to 900
billion won this year, the company said in a statement.
ksnam@yna.co.kr
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