SK Telecom (SKT) started a cull of its executive ranks, with up to a 30 per cent reduction expected, part of a wider reshuffling across the SK Group, The Chosun Daily reported.

Sources told the newspaper the operator started receiving resignations from C-level executives and began to notify those targeted for early retirement. 

The South Korean operator is expected to announce details of a broad restructuring this week, which is intended to realign resources toward its goal of becoming a global AI company.

In September, it unveiled plans to consolidate all of its AI units into a single entity.

The cuts come a week after SKT recorded a Q3 net loss of KRW167 billion ($117 million) due to a KRW500 billion compensation payment to customers and week after Jung Jai-hun, previously chief governance officer, took over from Ryu Young-sang as CEO.

Jung’s appointment follows a data breach compromised SIM-related information of its entire mobile users base back in April.

SK Group apparently started its annual year-end staff reshuffle early.