KEPCO plans to cut workforce by 10 pct: sources

SEOUL, Dec. 6 (Yonhap) -- South Korea's power monopoly Korea Electric Power Corp. (KEPCO) will slash its workforce by 10 percent in line with government efforts to overhaul public companies, sources said Saturday.
"Under the government blueprint to enhance management efficiency in the public
sector, a 10-percent reduction in workforce is being discussed," said an official
at the Ministry of Knowledge Economy. He added that the process will be completed
within three years.
KEPCO is in talks with its labor union representatives and government officials
over the corporate overhaul plan, sources said. The power monopoly currently
employs 21,700.
The state-run company reported a net loss of 325.3 billion won (US$220 million)
during the third quarter of this year due to a weak local currency and higher
fuel costs. KEPCO officials were not available for comments.
kokobj@yna.co.kr
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