Key facts
- Hyundai Motor workers will stage four days of partial strikes this week.
- The strikes are due to a failure to reach an agreement with management over wages.
- The union plans four-hour strikes on Wednesday and Thursday, and six-hour strikes on Friday and Sunday.
- Previous strikes resulted in an estimated production loss of 42,510 vehicles.
- The union is demanding a 149,600-won increase in monthly base pay and a performance bonus equivalent to 30 percent of last year's net profit.
- The company has offered an 80,000-won increase in monthly base pay, a performance bonus, and 15 shares of company stock.
The labor union of Hyundai Motor Co. announced it will stage four days of partial strikes this week, including four-hour walkouts on Wednesday and Thursday, and six-hour strikes on Friday and Sunday, after failing to reach an agreement with management over wages.
The union's decision follows previous partial strikes totaling 30 hours last month and refusal to work special shifts on four Saturdays, which resulted in an estimated production loss of 42,510 vehicles.
The 40,000-member union is demanding a 149,600-won (US$105.6) increase in monthly base pay and a performance-based bonus equivalent to 30 percent of the company's net profit for last year. Management has countered with an offer of an 80,000-won increase in monthly base pay, a performance bonus equivalent to 350 percent of monthly salary plus 10 million won, and 15 shares of company stock.