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GM Korea Reaches Tentative Wage Pact
On Wednesday GM Korea's unionized hourly workers will begin voting on a proposed contract that would avert a strike at GM's four assembly and parts plants in South Korea.
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On Wednesday GM Korea's unionized hourly workers will begin voting on a proposed contract that would avert a strike at GM's four assembly and parts plants in South Korea.
GM had threatened to shift some production out of Korea if contract talks continued to disrupt output.
Under the deal, GM reversed an earlier decision not to build the next-generation Chevrolet Cruze sedan at its factory in Gunsan. The plant, which supplies most of the Chevrolet models GM sells in Europe, had faced sharp cutbacks after GM decided to withdraw the Chevy brand in that market at the end of next year.
The labor pact calls for GM to pay workers 10.5 million won ($10,200) in annual bonuses and raise their base monthly wage by 63,000 won ($61). The company also agreed to comply with a Korean Supreme Court ruling that regular bonuses should be counted as part of base wages when calculating benefits.
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