HMM Launches Early Retirement Program as Carriers Tighten Costs

Hyundai Merchant Marine (HMM) has rolled out an early retirement program for employees aged 50 and older in another apparent cost restructuring measure from an ocean carrier. South Korean publication Maeil Business Newspaper first broke the news Tuesday. More from Sourcing Journal “This is a voluntary program for employees aged 50 and over, designed to create a virtuous cycle in the organization and improve management efficiency,” an HMM spokesperson said. The company is not implementing a fixed headcoun ...