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Labor Dispute Limits Hyundai Output
About 45,000 workers at Hyundai Motor Co.'s South Korean plants have refused to work overtime on weekends for the past six weeks, demanding higher pay for those shifts.
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About 45,000 workers at Hyundai Motor Co.'s South Korean plants have refused to work overtime on weekends for the past six weeks, demanding higher pay for those shifts.
The disagreement was prompted by a new work schedule for Saturdays and Sundays that has cut wages on those days.
Hyundai's ability to boost sales this year is constrained by its factory capacity, so the company is trying to squeeze the maximum output out of its plants.
Hyundai estimates that the job actions have reduced potential production by 41,000 vehicles at a cost of 820 billion won ($733 million). The company warns that lost revenue could top 1 trillion won ($894 million) if the dispute isn't settled by the end of this month.
Hyundai says it continues to negotiate with the union, which is seeking 467,500 ($418) in total pay for 17 hours of weekend work spread over two days. The company's latest offer is 426,000 won ($381).
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