Hyundai Motor has reached a deal with its union to end a protracted dispute which has cost more than 600 million dollars in lost production, the company has said.
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Some 95 percent of the 45,000 union members voted on the deal covering working conditions and wages and endorsed it by a 54-43 margin.
Under the deal, the company will abolish its all-night shift system in September next year.
It also agreed to raise the monthly base salary by 5.61 percent and pay a bonus equivalent to three months’ salary. Workers will also receive a lump-sum payment of three million won.
The vote was on a second tentative deal between Hyundai Motor and its labour union. The first tentative agreement was vetoed in a vote put to union members.
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By GlobalData
