Samsung Staff Resist Massive Selloff

A massive selloff of Samsung subsidiaries has hit a hurdle with staff of Samsung Techwin, the conglomerate's defense subsidiary, forming an emergency committee to resist the sale of their company to Hanwha Group.

A member of the committee said, "We have been proud Samsung members until now, but the decision to sell our company to Hanwha Group came virtually overnight. We protest against the sale, which did not have the consent of workers."

Employees at other Samsung affiliates that are being sold off under the massive deal say they were also taken by surprise.

Hanwha announced Thursday it is buying four chemical and defense firms from Samsung for W1.9 trillion (US$1=W1,099).

View the original article here

Samsung Staff Resist Massive Selloff

A massive selloff of Samsung subsidiaries has hit a hurdle with staff of Samsung Techwin, the conglomerate's defense subsidiary, forming an emergency committee to resist the sale of their company to Hanwha Group.

A member of the committee said, "We have been proud Samsung members until now, but the decision to sell our company to Hanwha Group came virtually overnight. We protest against the sale, which did not have the consent of workers."

Employees at other Samsung affiliates that are being sold off under the massive deal say they were also taken by surprise.

Hanwha announced Thursday it is buying four chemical and defense firms from Samsung for W1.9 trillion (US$1=W1,099).

View the original article here

Samsung Staff Resist Massive Selloff

A massive selloff of Samsung subsidiaries has hit a hurdle with staff of Samsung Techwin, the conglomerate's defense subsidiary, forming an emergency committee to resist the sale of their company to Hanwha Group.

A member of the committee said, "We have been proud Samsung members until now, but the decision to sell our company to Hanwha Group came virtually overnight. We protest against the sale, which did not have the consent of workers."

Employees at other Samsung affiliates that are being sold off under the massive deal say they were also taken by surprise.

Hanwha announced Thursday it is buying four chemical and defense firms from Samsung for W1.9 trillion (US$1=W1,099).

View the original article here

Major Banks to Lay Off Staff Amid Recession

Major banks are planning to lay off staff early next year.

Industry insiders say KB Kookmin Bank will soon offer voluntary retirement packages to its employees. Woori Bank also mulls similar measures.

As banks have seen their profits tumble recently, they are more likely to reduce the number of new hires.

View the original article here

Major Banks to Lay Off Staff Amid Recession

Major banks are planning to lay off staff early next year.

Industry insiders say KB Kookmin Bank will soon offer voluntary retirement packages to its employees. Woori Bank also mulls similar measures.

As banks have seen their profits tumble recently, they are more likely to reduce the number of new hires.

View the original article here