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One out of four Korean businesses is laying off staff or plans to do so this year, a survey has found. According to the survey of 1,053 companies by jobs website Job Korea (www.jobkorea.co.kr) on Wednesday, 24.9 percent of companies said they are trimming workers or they will do so soon.
By company type, 30.6 percent of large enterprises said they're planning a restructuring in human resources, followed by 28.4 percent of foreign companies and 24.6 percent of small-to-medium size firms.
By category, 34.8 percent of finance sector companies are planning cuts, followed by 32.7 percent of logistics and service firms, 27.4 percent of IT and communications companies, 22.6 percent of electronics firms, 20.4 percent of machinery, steel and automobile makers and 16.2 percent of construction and cement companies.
When asked how they plan to restructure, 92 companies or 35.1 percent said they would cut employees by merging divisions. Another 25.6 percent said they planned to lay off temporary workers.
(englishnews@chosun.com )
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