Shadow
07-06-2010, 20:36
*KBS to shed 20% of jobs by 2014June 7th, 2010 - 16:57 UTCby Andy Sennitt.KBS, the largest broadcaster in South Korea, says it will trim about one fifth of its executives and staff by 2014 in what is seen as the biggest rationalization program in its 84-year history. It will make as many as 1,100 executives and employees redundant, reducing the number of staff to 4,400 from 5,500. Its union is strongly opposed the restructuring plan.Mindful of the opposition, KBS said the planned rationalization program is moderate, considering that some 800 people will retire naturally by 2013. The remaining 300 will be trimmed by merging similar positions or transferring other minor jobs to affiliated companies.