SK On, a battery manufacturing subsidiary of SK Group, has unveiled a voluntary retirement program as a strategic move to boost operational efficiency and achieve profitability by the end of the year. The initiative includes two main components: a special leave scheme to support employee growth and a voluntary departure option for those interested in early retirement. These actions are being taken in response to the EV industry's slowdown and the company's ongoing adjustments to its long-term growth strategy. Under the special leave program, SK On will allow employees to take time off for personal and career development, with the company covering 50 percent of tuition fees for staff pursuing academic studies during their leave. Upon completion of a relevant degree, the remaining 50 percent of tuition will be reimbursed upon their return to work. This initiative aims to equip employees with new skills aligned with the company's evolving requirements, enabling them to better prepare for future challenges amidst the volatile EV market landscape. Additionally, SK On will introduce a voluntary retirement plan for eligible employees who joined the company before November of the previous year, offering a retirement incentive package comprising 50 percent of their salary and a lump-sum payment for those opting for early retirement. These proactive measures are part of SK On's strategy to streamline its workforce and enhance agility in response to market dynamics.