SsangYong workers begin taking unpaid leave in self-rescue attempt

SsangYong Motor Co. employees have begun taking rotational unpaid leaves as part of self-help measures.

The two-year rotational unpaid leave, which is an extension of a wage cut and suspended welfare benefits until June 2023, was agreed upon between the company and its workers last month.

The arrangement is for 50 percent of assembly line workers in the Pyeongtaek plant, and 30 percent of office workers taking turns going on unpaid leave through June 2022.

The SUV-focused carmaker has a workforce of 4,590 as of Monday, consisting of 3,190 on the assembly line and 400 in the office.

The workers also agreed on Ssangyong's plan not to hire replacements to about 150 employees set to retire each year in the next five years.

SsangYong has been in the debt-rescheduling process since April after its Indian parent Mahindra & Mahindra Ltd. failed to attract investors.