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[THE INVESTOR] The unions of Hyundai Heavy Industries Group’s three shipbuilders announced on Aug. 17 they will go on an all-out strike until the companies withdraw their restructuring plans.
Burdened by growing debt and a global industrywide slowdown, Hyundai Heavy’s shipbuilders have been rolling out restructuring measures that include voluntary redundancy programs.
“We declare an all-out coalition strike, which is the unions’ last weapon,” the leaders of the unions of the three companies -- Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries -- announced at a press conference held in Ulsan on Aug. 17.
Burdened by growing debt and a global industrywide slowdown, Hyundai Heavy’s shipbuilders have been rolling out restructuring measures that include voluntary redundancy programs.
“We declare an all-out coalition strike, which is the unions’ last weapon,” the leaders of the unions of the three companies -- Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries -- announced at a press conference held in Ulsan on Aug. 17.
The unions said that the strike would begin on Aug. 31, claiming the companies ignored Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries’ unions’ efforts to conduct negotiations.
“(The planned strike) is not a one-day strike, (the unions) will fight as one until all three companies stop restructuring, and the wage and collective negotiations are concluded,” the leaders added.
The three unions claimed the companies were pushing ahead with layoffs and other restructuring measures despite recent improvements in their performance.
By Choi He-suk (cheesuk@heraldcorp.com)
