Korea Daily International Edition Maple Home and Life Insurance to Cut 1,500 jobs The o

Korea Daily

International Edition

Maple Home and Life Insurance to Cut 1,500 jobs

The oldest insurance agency in Busan is planning to eliminate at least 1,500 jobs by the end of the year. The mass layoff has already (147) , with the first 400 people receiving their termination slips last Friday. Maple Home and Life is one of five financial services companies in Korea that has decided to downsize this year." (148) labor costs is the only way we can avoid bankruptcy," said the company's vice-president.

Financial analyst Yoon Kwang-ung says that an unexpected amount of insurance claims clue (149) a season of forest fires, occurring in a weakening economy, has caused the mass layoff. But employees are not satisfied with these and other excuses they are hearing in the media. "We want answers. And we won't leave until we get them," said Hwang Woo-suk, who plans to march in a protest outside the insurance office tomorrow.

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D．beginning