SK hynix unions agree to receive half of bonuses in cash, half in shares
SK hynix’s production workers’ unions on Wednesday approved a revised tentative agreement reached between their representatives and management, under which employees will receive half of their performance bonuses in cash and the other half in company shares, concluding this year’s wage and collective bargaining negotiations without a labor dispute. According to SK hynix, the two production…
SK hynix's production workers' unions have officially endorsed a revised tentative agreement, ensuring employees receive a 50-50 split between cash bonuses and company shares, marking the successful conclusion of this year's wage and collective bargaining discussions without any labor disputes. Out of the 16,000 eligible members, over 15,000 union representatives voted in favor of the agreement, which garnered a 57.08% approval rate.
The unions, representing the workforce at SK hynix's plants in Icheon, Gyeonggi Province, and Cheongju, North Chungcheong Province, respectively, will see half of their performance bonuses, known as excess profit-sharing, distributed as cash while the remaining half will be in the form of treasury shares. This revised agreement supersedes an earlier tentative deal that proposed 60% of the bonuses in treasury shares and the remaining 40% in cash, which was subsequently rejected.
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.
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