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The 18-day strike, slated to begin Thursday and planned by nearly 48,000 union members, was canceled after last-minute negotiations.
Samsung and its union canceled an 18-day strike after reaching a new bonus payout agreement.
KEY POINTS
- The proposed labor deal includes considering performance bonuses in shares rather than cash.
- Samsung's revenue soared 70% year over year, hitting its highest-ever quarterly sales.
- Surging AI chip demand and supply shortages have driven Samsung shares up 128% this year.
- The labor deal may hurt Samsung's operating margins due to higher labor cost provisions.
COMPANIES
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