Samsung Faces Historic Strike: Union Demands Better Pay Amid Soaring Profits

July 9, 2024
Samsung Faces Historic Strike: Union Demands Better Pay Amid Soaring Profits
  • Samsung Electronics faces its first-ever strike led by the National Samsung Electronics Union (NSEU) with 30,000 members participating.

  • The union is demanding improved pay, an additional day of annual leave, and changes to the bonus structure.

  • Despite low participation and automated production, the strike is not expected to significantly impact chip production.

  • Samsung's proposals have not met the union's demands, potentially leading to further strikes.

  • The union justifies their demands by pointing to Samsung's anticipated 15-fold increase in operating profit in the second quarter.

  • This event marks a significant shift in Samsung's 55-year history and reflects ongoing tensions over fair compensation.

  • Analysts believe negotiations are crucial for Samsung to maintain its competitiveness, particularly in light of its struggles in the AI market compared to rivals like SK Hynix.

Summary based on 10 sources


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