SK Hynix System IC begins layoffs and reorganization with generous compensation

According to Korean media reports, SK Hynix System IC, a foundry subsidiary of SK Hynix, has begun employee layoffs and restructuring. The laid-off employees will receive one year's basic salary compensation, 124,000 yuan in consolation money, and the company will bear the tuition fees of the employees' children. The layoffs are mainly aimed at production line workers and office workers, especially foreign employees and local Korean employees. SK Hynix has received "voluntary retirement applications" from some employees.