Homeplus labor and management meet for the first time after court approval of reorganization plan… Discussions on normalization, staffing, and M&A

Homeplus labor and management are set to meet for the first time since the court approved the reorganization plan. Key discussion topics are expected to include sales trends, responses to the Chuseok holiday, staffing operations, and mergers and acquisitions (M&A).

According to the retail industry on the 9th, Homeplus plans to hold separate meetings with the Mart Union and general unions on the 15th. This marks the first formal face-to-face meeting between labor and management since the Seoul Bankruptcy Court approved Homeplus's reorganization plan on the 2nd.

During these meetings, restoring normal operations at Homeplus stores is expected to be the top priority. Since Homeplus must repay creditors primarily through operating profits, regaining profitability is urgent. Although Homeplus recorded total sales of 116.4 billion won since reopening in August, signs suggest that the pace of sales recovery has slowed compared to the early days after reopening. Industry sources report that Homeplus's sales have declined by approximately 30% compared to the initial period following its August reopening.

While increasing product volumes and expanding assortments—particularly focusing on fresh foods and private label (PB) items compared to the early post-reopening phase—the store still lags behind competitors like E-Mart and Lotte Mart in terms of product variety. Especially given the inability to secure Chuseok gift sets due to financial constraints, it is urgent to prepare alternative measures such as discount events centered on traditional holiday offerings. Consequently, labor and management are expected to focus their discussions on holiday response strategies to maximize demand during this peak season, alongside medium- to long-term operational plans.

Staffing operations also remain a core agenda item. Since reopening, Homeplus has had only 50% of its total workforce reporting for duty. However, following court approval of the reorganization plan, the union insists that at least 70% of all employees must return to work. This is aimed at improving store conditions and preventing further long-term layoffs.

Mergers and acquisitions (M&A) are also expected to be discussed. Homeplus has stated its intention to pursue M&A while implementing its reorganization plan. To this end, the company plans to proceed with a corporate split separating profitable businesses from non-profitable ones. However, the union maintains that it has not received specific information on these plans and intends to demand detailed explanations from management regarding the specifics of the corporate split and potential acquisition targets.

A union representative stated, "While the atmosphere on the ground has stabilized somewhat since the court approved the reorganization plan, anxiety persists." The representative added, "Since both labor and management must work together for normalization, various discussions are necessary."