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Hyundai Says One-Day Strike Cost $39 Million
Hyundai Motor Co. claims a four-hour strike earlier today by hourly workers in South Korea cost the company $39 million and 2,100 units of lost input, Bloomberg New reports.
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Hyundai Motor Co. claims a four-hour strike earlier today by hourly workers in South Korea cost the company $39 million and 2,100 units of lost input, Bloomberg New reports.
The union plans a similar walkout at Hyundai and its Kia Motors affiliate on Thursday before resuming contract talks the same day.
Workers have struck Hyundai during annual labor negotiations almost every year since the mid-1980s. Last year's companywide strike cost a record $1.5 billion, according to the company.
Bloomberg says the union plans to resume contract talks, which began three months ago, at both companies on Thursday. This year Hyundai/Kia workers are demanding a $117 hike in monthly base pay and 30% of the companies' net income.
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