"Samsung unions are demanding a larger share of the company's booming profits, citing that the current bonus cap of 50% of annual salary is inadequate compared to competitors."
"The unions warned of a potential 18-day strike, which could disrupt the production of chips essential for the growing AI industry, impacting global supply chains."
"Samsung's shares have surged nearly 300% over the past year, driven by demand for AI chips, yet the company has not met union demands for better pay."
"Despite rejecting the demand to remove the bonus cap, Samsung stated it would provide additional funding to ensure that memory division workers earn more than their competitors."
Samsung unions are threatening an 18-day strike if their demands for better pay and removal of the bonus cap are not met. Approximately 40,000 workers rallied, citing inadequate compensation despite the company's strong performance and a nearly 300% surge in shares. The unions argue that the current bonus cap of 50% of annual salary is insufficient, especially compared to rival SK Hynix, which has eliminated its cap. Samsung has rejected the demand to remove the cap but plans to offer additional funding to ensure competitive wages.
Read at www.dw.com
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