Mexican Media Brands
Hyundai Workers in Korea Ratify New Contract
Workers at Hyundai Motor Co.'s factories in South Korea have approved the tentative contract that their union reached with the company late last week.
#labor
Share
Workers at Hyundai Motor Co.'s factories in South Korea have approved the tentative contract that their union reached with the company late last week.
The vote ends a series of ministrikes by hourly employees since Aug. 20. Hyundai estimates the job actions cost it 1 trillion won ($913 million) in lost production of about 50,200 vehicles.
Under the new one-year pact, workers each will receive a 5.1% hike in base wages, or about $89 per month, and bonuses worth about $26,300.
Hyundai also lost production this spring, when workers refused to work overtime on 13 weekends without higher pay for those shifts. The company said lost output in that period cost it 1.7 million won ($1.6 million).
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.
-
Skilled-Trade Workers Reject GM Contract, Ratification in Limbo
The United Auto Workers union says its production workers ratified a new four-year labor contract with General Motors Co. by a 58% margin.
-
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.