Mexican Media Brands
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.
#labor
Share
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.
RELATED CONTENT
-
UPDATE: Unifor Ratifies GM Labor Pact by 86% Margin
Hourly workers at General Motors Co.’s CAMI assembly plant in Ingersoll, Ont., will vote today whether to accept an agreement to end a strike they began on Sept. 17.
-
GM Unit Stresses Driver Training in Autonomous Cars
General Motors Co.’s Cruise Automation unit says it puts backup drivers and auditors through extensive training before allowing them to participate in real-world autonomous vehicle tests.
-
GM Offers Buyouts to 18,000 Salaried Workers
General Motors Co. is launching a new round of buyouts for about 18,000 of its 50,000 white-collar employees in North America.