Businesses Slim down Top Management

  • By Kim Kang-han

    October 22, 2021 12:48

    The top 100 companies have shed about 200 executives this year as they tighten their belts.

    According to headhunter UnicoSearch, the total number of executives at the 100 biggest companies in Korea stood at 6,664, down 207 from 2020. This is the first time the figure has dropped to the level since a decade ago.

    The development seems to be linked to the coronavirus pandemic. In 2019 before the pandemic, there were 6,932 executives, up 89 from a year earlier. But their number has fallen for two years in a row since.

    Kim Hye-yang of UnicoSearch said, "Companies are expected to increase the number of executives a little in a year-end personnel reshuffle to prepare for the post-COVID era."

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