403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Daewoo Shipbuilding reaches wage deal with union
(MENAFN) Daewoo Shipbuilding & Marine Engineering Co. declared it has reached a tentative wage agreement with its union.
According to a company official, based on the deal, the two sides have agreed to halt wages and turned many allowances worth about 1.25m into basic wages.
He said that 6,000 union members are prepared to vote on Friday whether or not to approve the deal.
Shipbuilders of South Korea have been under intense financial tension since the global economic crisis of 2008, which led to the fall of new orders among an excess of vessels and tougher competition from Chinese rivals.
According to a company official, based on the deal, the two sides have agreed to halt wages and turned many allowances worth about 1.25m into basic wages.
He said that 6,000 union members are prepared to vote on Friday whether or not to approve the deal.
Shipbuilders of South Korea have been under intense financial tension since the global economic crisis of 2008, which led to the fall of new orders among an excess of vessels and tougher competition from Chinese rivals.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment