Samsung Electronics union calls off strike after profit-sharing deal; workers may receive six-figure bonuses
By
Simon Sharwood
Pulled from the oven just right. Trustworthy, fact-dense, deeply satisfying.
Summary
Samsung Electronics workers in South Korea, represented by the National Samsung Electronics Union (NSEU), called off a planned strike after the company agreed to create a profit-sharing fund. With Samsung's memory and SSD profits surging, some workers could receive bonuses exceeding $100,000. The article also briefly covers Huawei claiming to have replaced Moore's Law, Chinese mobile plans adding token allowances, and Singtel's Optus operations.
Key quotes
· 4 pulledSamsung's profits recently shot into the stratosphere along with the price of memory and solid-state storage.
Staff threatened to strike if the company did not share some of the largesse.
Last-minute talks saw the National Samsung Electronics Union (NSEU) agree not to strike, after Samsung agreed to create a fund that will share profits with workers.
A Bloomberg report suggests some workers could [score bonuses of well over $100,000].
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