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GM Korea Workers Offer Wage Freeze
Union workers at General Motors Co.’s operations in South Korea say they would accept a wage freeze if the carmaker reverses plans to shut down a factory in Gunsan, The Nikkei reports.
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Union workers at General Motors Co.’s operations in South Korea say they would accept a wage freeze if the carmaker reverses plans to shut down a factory in Gunsan, The Nikkei reports.
The union’s umbrella organization had suggested that workers demand a 5% pay hike. But workers are focusing on job security instead. They also want to see the results of the financial due diligence being performed by Korea Development Bank, which owns 17% of GM Korea.
GM Korea announced last month it intends to close the Gunsan facility in May. The company, pointing to mounting losses, also is reviewing the viability of its three other plants in Korea.
GM has said it will add new vehicle programs in Korea and invest in operations there if it can find a way to make the business sustainable.
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