Concerns of Korean Employees
It has been found that 86.3 percent of Korean employees are thinking that they might become layoff targets, and no less than 76.9 percent of workers answered that they directly or indirectly experienced manpower reduction at work in a recent survey of 640 employees.
Of those that experienced manpower reductions, 53.1 percent mentioned layoffs and forced resignations as the method they experienced. Those were followed by voluntary resignation (22.5 percent), personnel transfer (16.9 percent), and wage cuts (7.5 percent). A total of 55.6 percent of the respondents said that they would follow their companies’ decision but take all of the benefits possible when their companies decide to dismiss them, while 21.3 percent mentioned they would try to hang in there. Only 3.8 percent answered that they would file a request for relief against their employers.
40.9 percent thought that layoffs should be prevented even by means of salary cuts, benefit reductions, or shortened work hours. 31.9 percent and 21.9 percent said that layoffs are the worst choice for the targets and others alike and the best option for their companies to go on, respectively. Just 5.6 percent of the respondents said layoffs have nothing to do with them, and they have never thought about it.