LG Old employees take "repaying order" to lay off staff or decline due to performance

Legal Evening News (reporter Ping Shadow Lisong) after the Spring Festival just started, in LG worked for 11 years old staff Lee (a pseudonym) he was likely to be dismissed news. In this regard, insiders speculate that this may be related to LG's declining market share in recent years. "I'm one of the companies that may have to cut some of the staff," said the head of the department. Lee told reporters that at the end of last year, the company circulated a message that employees who have worked 10 years or about 10 years will be repaying. "There is no official document issued, but everyone is preaching this matter, the leadership to talk to me also suggested that there is a good opportunity to jump job." "For Lee, a management insider in LG also confirmed to reporters that at present, and three or four of old employees have been talking about the issue of no longer renewing the contract," is the age, low education. The insiders say these are orders from the top down. The reporter then from the relevant department of LG learned that the company did not release a layoff plan, "if there is really, but only a small number of people, may not be competent to work, and can not be called layoffs." "This morning, 12333 customer service staff told reporters, workers in the same employing units for 10 years or with the employing units to sign two consecutive fixed-term contract, if not in violation of the relevant provisions of labor law, should be renewed without fixed-term labor contracts." "If the contract is not renewed, the employer shall compensate the laborer for several months ' salary (working life x Monthly Salary)." If the employer is violating the rules, the compensation will be raised to twice times. In addition, the staff said that if the workers or employers think their interests are impaired, can go to the local district Labor dispute arbitration department to adjudicate. Analysis of LG layoffs or due to the decline in performance as the beginning of the new year, LG inside the news of layoffs, industry analysts believe that this may be related to the sluggish performance. According to earnings data, LG Electronics lost 3 consecutive years from 2010 to 2012. 2013, LG revenue rose to 53.1 billion U.S. dollars, net profit of 203.67 million U.S. dollars, but in the fourth quarter of 2013 it still net loss of 59 million U.S. dollars. Industry analysis that LG last year by virtue of G2 and Nexus 5 in the mobile phone business has made good results, but the company also paid a huge marketing costs, the share of growth prospects difficult to predict. Not only that, as LG's main business, the current slump in the home appliance market will also bring uncertainty to LG's performance growth.