Mexican Media Brands
Hyundai Workers Authorize Strike
Hourly workers at Hyundai Motor Co. in South Korea have voted for the fifth consecutive year to strike after annual contract talks stalled.
#labor
Share
Hourly workers at Hyundai Motor Co. in South Korea have voted for the fifth consecutive year to strike after annual contract talks stalled. The union plans to stage a partial strike for four days net week.
Workers are demanding a 7.2% hike in base pay and a shared performance bonus equal to 30% of the company’s net profit in 2015, Reuters reports. The news service says workers also want the right to refuse a promotion so they can maintain their union membership.
Hyundai wants to freeze wages and restructure its pay structure. Last year the company’s sales were flat at nearly 5 million units, and net profit shrank 15% to a five-year low of 6.4 trillion won ($5.3 billion). Sales volume for the company and its Kia Motors affiliate slipped 1 through the first half of 2016.
RELATED CONTENT
-
Labor: A Study of the Automotive Industry's Scarce Resource (PART 1 OF 3)
The shift is on to using lighter materials for the vehicles at Ford, with aluminum being an important aspect of this shift. Here's what's happening.
-
UPDATE: UAW, GM Reach Tentative Labor Deal
General Motors Co. and the United Auto Workers union have reached a possible deal on a new four-year labor contract covering some 48,000 of the union’s hourly workers in the U.S.
-
Is Brexit U.K. Auto’s Waterloo?
French manufacturers, particularly those in the automotive sector, are making significant investments in robotic technology, according to the International Federation of Robotics (IFR). The organization says that its most recent figures show that the number of robots installed in the French car industry rose 22 percent, to 1,400 units.