Mexican Media Brands
Hyundai Workers Reject Labor Pact
A one-year labor contract worked out between Hyundai Motor Co. and its South Korean union was overwhelmingly rejected earlier today, Reuters reports.
#labor #workforcedevelopment
Share
A one-year labor contract worked out between Hyundai Motor Co. and its South Korean union was overwhelmingly rejected earlier today, Reuters reports.
Four in five workers who voted said “no” to the pact, which is significantly smaller than the package the workers received last year. Hyundai has posted 10 consecutive quarters of shrinking year-on-year profit.
The company has endured strikes during its annual labor negotiations in all but four of the company’s 29-year history. Last year Hyundai’s sales, including those by its Kia Motors unit, were virtually flat at 8 million vehicles. Volume through the first seven months of 2016 totaled 2.73 million units, down 1% from the same period last year.
RELATED CONTENT
-
UAW Launches Strike Against GM
As expected, some 48,000 of the United Auto Workers Union members began a strike at midnight Sunday against General Motors Co. facilities in the U.S.
-
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.
-
Grand Jury Indicts Former FCA Executive In Union Payoff Scheme
A former labor relations executive at Fiat Chrysler Automobiles NV has been charged with making more than $2.2 million in illegal payments to himself and a United Auto Workers union official in Detroit.