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
-
Cheerio Car Shows (?)
While there is all manner of consternation regarding Brexit in the U.K. and the E.U.—the issue of the Brits departing from the European Union—there is an exit of another sort that could conceivably be telling—a small clue, mind you, but a clue nonetheless—about the future of the automobile in the U.K.
-
Tesla Fires Hundreds of Employees It Considers Sub-Par
Tesla Inc. dismissed roughly 400 hourly and salaried employees last week, according to The Mercury News in San Jose, Calif.
-
Denmark, 10 Other EU Members Urge Piston Ban
Denmark and 10 other member nations of the European Union have urged the region to allow them to end gasoline and diesel engine sales by 2030.