Daewoo, which employs about 40,000 people including contract workers, is reportedly accepting applications for a voluntary retirement programme through 21 October.
The company expects 1000 employees to participate in the programme. Another 2000 workers could be transferred into another company, though Daewoo provided no further details.
The move comes as new orders for drilling rigs, platforms and ships have all but dried up amid one of the worst oil busts in memory.
Daewoo
