SK hynix union approves revised wage deal
Unionized workers at SK hynix Inc. on Wednesday approved a revised wage agreement that was rejected three weeks ago. In an electronic ballot, 57.08 percent of union members voted in favor of the new agreement. The vote came about three weeks after the union narrowly rejected the initial tentative agreement reached on Aug. 25. Under the updated pact, the portion of the company's performance-based…
Unionized workers at SK hynix Inc. have voted in favor of a revised wage agreement that was initially rejected three weeks ago. The revised pact, approved by a 57.08% majority in an electronic ballot, increases the portion of the company's performance-based incentive, or profit-sharing, paid in cash from 40% to 50%. Conversely, the portion paid in company shares will decrease from 60% to 50%.
Previously, the agreement called for a 6.3% wage increase and a new payment structure for the performance-based incentive, with 40% of the incentive to be paid in cash and 60% in company shares. This latest proposal marks a significant shift in the distribution of the company's incentive payments between cash and shares.
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Also reported by 1 other outlet
- SK hynix union approves revised wage deal en.yna.co.kr
