business / news / / Lokmat Times
Samsung Electronics and its labour union fail to reach a wage agreement on Wednesday.
Samsung Electronics and its labor union failed to reach a wage agreement after government-led mediation.
KEY POINTS
- The union demands bonuses equal to 15% of operating profit and removal of existing payout caps.
- Samsung management offered 10% of operating profit for bonuses plus a one-time special compensation package.
- Up to 50,000 unionized workers may participate in the planned strike if legal barriers are cleared.
- A court will decide by May 20 on Samsung's injunction request to block the strike.
COMPANIES
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