SK hynix unions reject wage deal over stock-based bonuses
Production workers’ unions at SK hynix on Tuesday voted down a tentative agreement reached between their delegates and management, sending the issue of how much of their hefty performance bonuses should be paid in treasury shares back to the negotiating table. According to industry officials, the tentative agreement was rejected after 50.08 percent, or 7,535 members, of the two unions voted…
Union representatives at SK hynix's production facilities in South Korea rejected a proposed wage deal on Tuesday, sending the terms of the agreement back to the negotiating table. The vote, held by two unions representing plant workers in Icheon and Cheongju, resulted in a narrow defeat for the tentative agreement. Just 25 votes separated a 50.08% rejection (7,535 members) from a 49.92% approval (7,510 votes).
Nearly 94% of the 16,083 union members cast ballots, underscoring the intensity of the dispute. The agreement, which was announced on Thursday, called for a 6.3% wage hike. The dispute centers on how much of the generous performance bonuses should be paid in stock-based compensation rather than cash.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- SK hynix unions reject wage deal over stock-based bonuses koreatimes.co.kr
