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Hyundai’s Union Stages Nationwide Strike
The union representing hourly workers at Hyundai Motor Co. in South Korea has begun its first nationwide strike against the company in 12 years, The Nikkei reports.
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The union representing hourly workers at Hyundai Motor Co. in South Korea has begun its first nationwide strike against the company in 12 years, The Nikkei reports. The union has been conducting brief strikes on a plant-by-plant basis since July.
The company estimates the sporadic walkouts to date have cost its more than 101,000 units and $2 billion in lost production.
Last month the workers rejected a tentative wage deal that offered significantly smaller increases than employees received in last year’s agreement. Hyundai claims it can’t pay more after posting 10 consecutive quarters of shrinking profits. Global sales have been flat this year.
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