Over 47,000 Samsung Electronics workers set to strike as wage talks break down, sending shares lower
More than 47,000 Samsung Electronics workers will begin a strike on Thursday after wage negotiations between the company and its union broke down.
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Over 47,000 Samsung Electronics workers will strike beginning Thursday after wage negotiations with the company broke down. The union had accepted a mediation proposal from South Korea's National Labor Relations Commission, but Samsung rejected it and delayed its decision-making, leading to the impasse. The strike centers on the union's demands for performance bonuses equivalent to 15% of Samsung's operating profit, removal of bonus payout caps, and a formalized bonus structure, with Samsung's stock falling 3% following the announcement.