[THE INVESTOR] Pernod Ricard Korea is conducting a voluntary redundancy program that could reshuffle its workforce by up to 15 percent, industry sources said on June 29.

The company is offering voluntary redundancy program for all employees in mid-level management and higher positions, as it seeks to streamline itself in the face of deteriorating performance. 



Pernod Ricard Korea has been suffering from slipping market share for some years. The company’s share of the Korean whisky market dropped from 35.4 percent in 2012 to 25.3 percent last year.

According to the company, the program is aimed at replacing a sizeable portion of its workforce.

An official with the company said that the program is not aimed at cutting the workforce but a "rejuvination" that will see those opting for voluntary redundancy replaced with new blood.

By Choi He-suk (cheesuk@heraldcorp.com)