SK Group has ramped up efforts to cut costs at its money-losing battery affiliates as they continue to underperform amid a slowdown in global demand for electric vehicles (EVs). According to industry officials Monday, SK IE Technology (SKIET) has launched a voluntary redundancy program for employees with more than three years of service, offering severance pay equivalent to one year’s salary. Spun off from SK Innovation in 2019, SKIET produces separators for lithium-ion batteries. The battery materials maker has also allowed staff with more than two years of service to take unpaid leave for periods ranging from six months to two years. The company introduced this measure following its announcement last August of a self-rescue plan to mitigate a market slump. At the time, SKIET said the unpaid leave program was a preemptive response to slow market growth and growing uncertainty. Last year, the separator producer posted an operating loss of 246.3 billion won ($164 million), after losing 291 billion won the previous year. Securities analysts expect another operating loss this year. “Beca