Employees working on Samsung\u2019s semiconductor AI chips are set to receive bonuses of approximately \u20ac350,000 after striking a profit-sharing agreement.<\/p>\n
Two unions for the semiconductor producer, based in Korea, said 74% of their members, more than 60,000 people, voted in favour of a deal, which halted an 18-day strike action.<\/p>\n
Under the deal, semiconductor workers will receive a performance bonus equivalent to 10.5% of the company\u2019s earnings, to be paid out in stock, according to the Korean news agency Yonhap<\/a>.<\/p>\n Bonus payments could reach 600 million won (\u20ac346,750) for more than 28,000 employees at the company\u2019s chip division if Samsung\u2019s operating profit surpasses the 300 trillion won (\u20ac172 billion) it is estimated to hit this year, Yonhap reported.<\/p>\n \u201cStarting with the conclusion of this wage agreement, labour and management will work together with one mind to strengthen global competitiveness,\u201d Yeo Myung-gu, vice-president of Samsung Electronics, said in a statement after the vote<\/a>.<\/p>\n Related<\/p>\n \u201cI thank the labour union and all employees for engaging in negotiations with sincerity and never letting go of the thread of dialogue until the end.\u201d<\/p>\n The deal was struck less than 48 hours after a Korean court overturned an injunction sought by five Samsung employees to suspend the collective bargaining process led by the company\u2019s union, according to the Korea Herald<\/a>.<\/p>\n Samsung employees have been pursuing strike action in Korea since last December, when they initially filed for a 7% wage increase.<\/p>\n Are other unions asking for the same thing?<\/p>\n Samsung\u2019s Korean semiconductor rival, SK Hynix, has reportedly already allocated 10% of its operating profit to bonuses last year. Under this new structure, chip workers could be receiving up to 3,000% of their base salary in bonuses.\u200b<\/p>\n Employees at other Korean companies, including mobile network operator LG and internet company Kakao, are now asking for AI-related bonuses as well and threaten strikes if their terms are not met, according to local media reports.<\/p>\n Related<\/p>\n