SEOUL, Sept 26 (Reuters) - South Korean battery maker SK
On plans to introduce voluntary measures aimed at reducing its
workforce, as the company seeks to improve efficiency and remain
competitive in a challenging electric vehicle market, industry
sources said on Thursday.
SK On, the battery unit of energy group SK Innovation
, intends to offer programmes offering special leave
and voluntary departure options as part of an efficiency scheme,
the people with knowledge of the matter said.
"Nothing has been confirmed at this time," an SK On
spokesperson said in a statement.
SK On, which supplies EV batteries to Ford Motor ( F ),
Hyundai Motor ( HYMTF ) and Volkswagen among
others, has been struggling with a drop in battery shipments
amid a global slowdown in EV sales.
Ford, General Motors ( GM ), and other carmakers have
delayed or cancelled new electric models to avoid spending
heavily on vehicles that consumers are not buying as quickly as
anticipated.
As part of the efficiency measures, SK On is set to offer a
voluntary package to employees who agree to leave, including
offering staff who joined the company before November last year
50% of their salaries to retire early, the sources said.
The company employed 3,558 people as of the end of June this
year, a regulatory filing showed.
SK On, which has never made a profit since it was split off
from SK Innovation in 2021, booked an operating loss of 460
billion won ($346.10 million) in the April-June quarter, versus
a loss of 332 billion won in the previous quarter.
Shares of SK Innovation were trading down 1.2%, versus
benchmark KOSPI's 2.1% rise as of 0232 GMT.
($1 = 1,329.1000 won)