Samsung reaches tentative bonus deal with semiconductor workers after strike threat
By
Dominic Preston
A second-rack bagel that's nearly first-rack. Tasty stuff.
Summary
Samsung has reached a tentative deal with semiconductor employees who threatened an 18-day strike over bonus caps. The agreement makes some workers eligible for average annual bonuses of $340,000, following a substantial rise in bonuses at rival SK Hynix, which is benefiting from AI component demand. Under the deal, all chip workers will receive 50% of their annual performance payout, though the deal may still favor Samsung with smaller payouts than SK Hynix, mostly limited to stock rather than cash.
Key quotes
· 3 pulledThe proposed 18-day strike had hinged on Samsung's bonus cap for employees in the semiconductor division.
Under the terms of the new deal, Reuters reports that all chip workers will receive 50 percent of their annual...
The deal may still be a win for Samsung, with smaller performance payouts than at local rival SK Hynix, and mostly limited to stock, not cash.
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