Samsung Management, Union Fail to Reach Deal in Last-Minute Talks
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Samsung Electronics' management and union leaders failed to reach a bonus-pay deal, leading to a planned strike from May 21 to June 7. The union demands a 15% allocation of annual operating profit for bonuses and removal of the 50% cap on bonuses. Samsung's shares fell 3.0% following the failed talks. A local court partially granted an injunction against the strike, allowing normal operations at key facilities. The South Korean government may intervene if negotiations do not progress.
Source: MorningStar The copyright of this article belongs to the original author/organization.
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