Mexican Media Brands
UPDATE: No Deal Between GM Korea, Union as Bankruptcy Looms
GM Korea failed to reach a tentative agreement with its labor union today to avert a possible bankruptcy filing. But talks reportedly will continue into Monday.
#labor
Share
GM Korea failed to reach a tentative agreement with its labor union today to avert a possible bankruptcy filing.
But the company’s board deferred taking that step until late Monday, sources tell Reuters. A union official says the two sides have agreed to continue negotiations until Monday afternoon.
General Motors Co. has offered to invest $2.8 billion to revive the struggling subsidiary, but only if it wins government aid and workers agree to concessions. An apparent sticking point in the discussions is job security for almost 700 workers at an assembly plant in Gunsan that GM Korea has vowed to shut down in May.
RELATED CONTENT
-
Bentley Looking for Apprentices
It is always encouraging to learn about the efforts of OEMs and suppliers that are running apprenticeship programs to help train the future of the industry.
-
What to Do In an R&D Overcapacity Situation
Opel is making a big change in staffing in Rüsselsheim
-
Volvo and Uber Strike Deal for Autonomous Vehicles
Volvo—the gutsiest car company on the planet is likely to become the most autonomous-tech related vehicle provider in the world as it has announced a framework agreement with Uber under which it will sell “tens of thousands of autonomous driving compatible vehicles [to Uber] between 2019 and 2021.”