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[THE INVESTOR] Hyundai Motor’s labor union resumed partial strikes on Aug. 10, staying off work in two groups for four-hour stretches.
The union will continue the partial strike following the same pattern on Aug. 11-12.
The union and management continued negotiations through the nine-day summer vacation, but failed to narrow their differences.
The union will continue the partial strike following the same pattern on Aug. 11-12.
The union and management continued negotiations through the nine-day summer vacation, but failed to narrow their differences.
One of the key sticking points is the company’s plans to expand the wage peak system. The company currently freezes the salaries of workers at the age of 59, and enforces a 10-percent cut for those aged 60.
Due in part to the differences over the issue, the union has staged partial strikes on five occasions.
The company estimates that damages of 250 billion won (US$228.95 million) have been incurred due to lost production.
By Choi He-suk (cheesuk@heraldcorp.com)
