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AI & Enterprise

Microsoft seeks to introduce first voluntary employee exit program in 51 years

Microsoft is introducing a voluntary exit program for the first time in its 51-year history. CNBC reported the one-off program will apply to U.S. employees at senior director level and below whose combined age and length of service total 70 or more. Eligible employees and their managers will receive details on May 7, while staff covered by sales incentive plans cannot participate. Microsoft is also changing compensation and evaluation systems.

Finance

Shinhan Financial Q1 net profit 1.62 trillion won, up 9 percent on year

Shinhan Financial Group said on Wednesday its first-quarter net profit rose 9.0 percent from a year earlier to 1.62 trillion won. Improved non-interest income, led by securities, drove the earnings increase, while interest income held a stable trend. Selling and administrative expenses and credit loss costs were also managed steadily. The group’s CET1 ratio stood at 13.19 percent and its BIS capital ratio at 15.72 percent as of end-March 2026.

Industry

Lotte Wellfood cuts prices for confectionery, ice cream and packaged bread products by 4.7 percent on average

Lotte Wellfood said on March 19 it will cut prices on nine items including confectionery, ice cream and packaged bread by up to 20 percent, averaging 4.7 percent. The cuts will apply to shipments from April 1 and will be rolled out gradually by distribution channel. The company said it decided on the cuts to join the government’s price-stabilisation drive and share the burden with people facing difficulties.