Korean Job Discussion Forums

[bibimbap]

South Korea's third-largest credit card issuer, KEB Credit Service, fired 161 people--a quarter of its workforce--via mobile phone text messages.

here's the story:

http://story.news.yahoo.com/news?tmpl=story&cid=573&ncid=757&e=4&u=/nm/20040227/od_nm/financial_korea_keb_dc

[desultude]

I don't believe in firing striking workers, but here is the reason for it being by sms:

[Real Reality]

Korea Exchange Bank announced yesterday that it had scaled back layoffs at its credit-card unit after a last-minute agreement with striking workers. The bank said it would reduce the number of staff cuts to 219, or 33 percent of the 662 employees at KEB Credit Service, to smooth their merger.

Of the workers to be laid off, 211 have submitted applications for an early retirement program and will take advantage of retirement benefits equal to 13 months' salary. An additional eight employees will be laid off later, the bank said.

In return, the union agreed to end a strike that has lasted for two and a half months and allow 30 essential computer operations staff to return to work immediately and let other employees return tomorrow.

The nation's credit-card companies have been struggling with a mountain of delinquent accounts after a consumer spending bubble burst and left 10 percent of adult Koreans with overdue loans.
http://www.koreaherald.co.kr/SITE/data/html_dir/2004/03/01/200403010041.asp

[Gord]

[Bulsajo]

"Soree Gold."
Classic. That reminded me of a friend who was called "Golden" all the time (at first I thought was because of his hair- I'm little slow that way).