BUSAN, South Korea, Aug. 10 (UPI) -- French automaker Renault asked employees at its South Korean subsidiary, Renault Samsung Motors, to voluntarily consider a buyout package.
Renault officials in France said Friday they asked for voluntary buyouts at South Korea's Busan factory, Radio France Internationale reported.
The employee-reduction request, the first since Renault began production in South Korea in 2000, was motivated by a 33 percent sales slump for the first half of this year, compared to the first six months of last year.
The company said 4,500 employees are eligible for the package that reportedly includes two years' salary, education costs for children, a lump-sum payment and outplacement assistance, RFI said.
The application deadline is Sept. 7.