Workers at Hyundai Heavy Threaten to Strike

Workers at Hyundai Heavy Threaten to Strike

Workers at South Korea’s shipbuilding giant Hyundai Heavy Industries will refuse to work after the regular eight-to-five-hours on Thursday after talks over wage dispute collapsed last Wednesday, Business Insider reports.

Kim Hyeong-Gyun , the union spokesman, said that this symbolic overtime walkout could be followed by wider industrial action as early as next week.

The motion to strike was backed by a vast majority of workers, who last staged an all-out strike eighteen years ago.

The wages talks failed after the company refused to meet the union’s demand for a 6.5% increase in basic pay and a one-off bonus amounting to 10 weeks’ wages.

Hyundai Heavy argued the demands were unrealistic seeing that the company posted a USD 1.7 billion operating loss for the first nine months of 2014, also stating that an all-out strike would set the company back an estimated USD 90 million in production losses.

 World Maritime News Staff

 

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