The agreement was supported by 74% of union members representing more than 60,000 workers, the company’s trade unions said. The deal effectively ended a labor dispute that began in December last year, the company said. Yonhap News Agency.
The bonus scheme will pay out 10.5 percent of the unit’s operating profit in shares. More than 28,000 employees will receive the maximum payout if Samsung’s operating profit exceeds 300 trillion won (172 billion euros).
The strike began last December when workers demanded a 7% pay raise. The conflict ended after a court in South Korea lifted restrictions on collective bargaining.
Against the backdrop of the deal, the situation in the industry is heating up. According to Bloomberg, SK hynix already allocates about 10% of profits to bonuses, while TSMC plans to increase payments under profit-sharing programs by about 30% this year.
