Unionised workers at Hyundai Motor have rejected offers of a performance bonus and wage increase and are going ahead with strikes.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
A company spokesman told Reuters Hyundai had offered a 6.18% increase in base salary, lower than the union’s demand for a 10.48% rise – Hyundai also proposed bonus payouts of three months’ basic wages, against union calls for bonuses equivalent to 30% of the company’s net profit, and also proposed cutting holidays.
“We cannot accept the proposals,” Chang Gyu-ho, a spokesman for Hyundai’s union, which represents more than 80% of the company’s work force, told the news agency. “We will go ahead with strikes as planned, while resuming negotiations with the management on Monday.”
Unionised workers launched partial strikes from Friday and plan a full one-day walkout Tuesday, the report said.
Hyundai’s strike is widely expected to spark similar industrial action by affiliate Kia Motors, SUV maker Ssangyong Motor and GM Daewoo Auto & Technology Co, Reuters noted.
