GM Korea has announced a new early retirement plan to help reduce further the size of its workforce, targeting team leaders and executive-level employees from end of the year.

Earlier this year, the company cut its workforce by 300 through a redundancy programme targeting white collar staff and production line supervisors.

GM Korea reported an 18% drop in global sales to 467,796 units in the first nine months of 2014, reflecting mostly the withdrawal of the Chevrolet brand in Europe by parent company General Motors.  

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