Samsung Electronics wage agreement approved

More than 70 percent of Samsung Electronics’ labor union members on Wednesday approved a tentative wage agreement reached between union leaders and management, bringing a months-long dispute over performance bonuses to a close, at least for now. According to the unions, 44,606 out of 57,332 eligible members of the Samsung Electronics Labor Union voted in favor of the agreement, for an approval rate of 80.6 percent. At the National Samsung Electronics Union, 1,536 out of 8,261 eligible members approved the agreement, translating to an approval rate of 21.1 percent. The tentative agreement was signed on May 20, just hours before the unions had been set to stage a general strike on the following day. Voting on the agreement was conducted from May 22 to 27. The agreement centers on a special management performance bonus offered exclusively to employees in the chip-making Device Solutions division. Under the agreement, the bonus will be funded with 10.5 percent of the company’s operating profit and paid out in treasury shares. The approval is expected to bring a temporary end to the laborWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times