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Doosan Heavy Begins Restructuring through Voluntary Retirements
Due to Nuclear Phase-out Policy
Doosan Heavy Begins Restructuring through Voluntary Retirements
  • By Jung Min-hee
  • February 19, 2020, 11:15
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Doosan Heavy Industries & Construction announced on Feb. 18 that it will receive applications for voluntary retirements from employees aged 45 and older from Feb. 20.
Doosan Heavy Industries & Construction announced on Feb. 18 that it will receive applications for voluntary retirements from employees aged 45 and older from Feb. 20.

Doosan Heavy Industries & Construction, which has suffered a big drop in its earnings due to the government's “nuclear phase-out policy” will eventually enter a restructuring phase. Some nuclear industry experts says that the government will not avoid a criticism that the government which declared job creation as its number-one policy, failed to adjust the speed of the implementation of its nuclear phase-out policy, destroying not creating jobs.

Doosan Heavy Industries & Construction announced on Feb. 18 that it will receive applications for voluntary retirements from employees aged 45 and older from Feb. 20 to March 4. The number of employees aged 45 and older is 2,600 across all of the company’s business sectors.

Doosan Heavy Industries & Construction has made various efforts including business adjustments and paid leaves in order to overcome the deterioration of its sales that has continued for many years.

Its human resources restructuring was caused by the collapse of its nuclear power business which is a cash cow for the company. Doosan Heavy Industries & Construction was directly hit by the government's nuclear phase-out policy. In fact, after a plan to build six new nuclear power plants including Shin Hanul Units 3 and 4, was scratched off by the government, Doosan Heavy Industries & Construction has lost its credibility in the global market and suffered difficulties in the export market.