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Samsung Workers in S. Korea Suspend Strike Plans
(MENAFN) Unionized employees at Samsung Electronics in South Korea have stepped back from the brink of a major industrial stoppage, announcing a suspension of their planned general strike, local media reported.
"We will postpone the general strike scheduled for May 21-June 7 until further notice," the joint headquarters of Samsung Electronics' labor union said in a notice, a South Korean news agency reported Wednesday.
The strike had originally been set to commence Thursday and run for 18 days.
However, the reprieve was swiftly challenged. A group of shareholders announced Thursday they intend to pursue legal action against the tentative wage agreement, branding it illegal.
At the heart of the deal is a commitment by Samsung to allocate a special semiconductor performance bonus equivalent to 10.5% of business performance earnings, with no upper cap imposed. The agreement will be submitted to a union membership vote running from Friday through Wednesday.
"We will postpone the general strike scheduled for May 21-June 7 until further notice," the joint headquarters of Samsung Electronics' labor union said in a notice, a South Korean news agency reported Wednesday.
The strike had originally been set to commence Thursday and run for 18 days.
However, the reprieve was swiftly challenged. A group of shareholders announced Thursday they intend to pursue legal action against the tentative wage agreement, branding it illegal.
At the heart of the deal is a commitment by Samsung to allocate a special semiconductor performance bonus equivalent to 10.5% of business performance earnings, with no upper cap imposed. The agreement will be submitted to a union membership vote running from Friday through Wednesday.
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