City
Epaper

Samsung stares at 1st-ever workers' strike over stalled wage negotiations

By IANS | Updated: May 29, 2024 10:10 IST

Seoul, May 29 Unionised workers of Samsung Electronics said on Wednesday they plan to go on a strike ...

Open in App

Seoul, May 29 Unionised workers of Samsung Electronics said on Wednesday they plan to go on a strike amid stalled wage negotiations.

The management of the South Korean tech giant and the company's union have held rounds of talks and negotiations since January but failed to narrow their differences.

If realised, it would mark the first-ever walkout by workers at the South Korean tech giant, reports Yonhap news agency.

"We declare a strike due to the management's attitude of disregarding the workers," the labour union said.

Last month, unionised workers voted in favour of a strike after failing to reach a deal on wage hikes with management.

Wage negotiations between management and labour broke down in February after rounds of talks over this year's wage increase.

The unions have demanded a 6.5 per cent pay increase with an additional paid day off.

Samsung announced last month that it has agreed with its workers to an average 5.1 per cent pay raise for the year.

The South Korean tech giant has not had a strike since it was founded in 1969.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

NationalAatmanirbhar Bharat doesn't mean halting imports, but prioritising domestic output: RSS chief

BusinessBadho.in Presents: Kapila Distributor Conference 2025 - A Milestone Event Celebrating Growth and Partnership

TechnologyElon Musk 1st person ever to reach net worth of $500 billion

BusinessElon Musk 1st person ever to reach net worth of $500 billion

NationalDelhi Police Arrest Two Shooters After Encounter in Kalindi Kunj

Business Realted Stories

BusinessMantle Unveils Tokenization-as-a-Service and Global RWA Programs, Welcomes WLFI's USD1 onto Mantle at TOKEN2049 Event with Donald Trump Jr.

BusinessSaraf Furniture Diwali Sale - The Biggest Sale of the Year with Up to 60% Off

BusinessIndia-EFTA trade pact a defining moment in India’s economic engagement with Europe

BusinessIf external headwinds remain and growth starts to decelerate, MPC likely to cut rates in December: Report

BusinessGovt calls for proposals under PRIP scheme for projects worth Rs 11,000 crore