LG intends to keep South Korean workforce intact
The CEO of South Korea-based LG Electronics said Monday that his company needs to trim fat amid the global downturn, but big job cuts like those being made in neighboring Japan are not in the cards.
"We are thinking to avoid laying off people in the short term," Nam Yong told reporters, though suggested there may be some job losses in other countries.
LG Electronics, a major global manufacturer of mobile phones and flat screen televisions, announced it aims to cut costs this year by 3 trillion won (US$2.2 billion).
"We need to standardise and rationalise our businesses," Nam said.