Samsung Electronics Union Calls First Strike in Company's 55-Year History
The National Samsung Electronics Union has called the first strike in the company's history, potentially impacting global electronics supply chains.
or the first time since its establishment 55 years ago, Samsung Electronics faces a significant labor strike. The National Samsung Electronics Union, representing approximately 28,000 workers, has announced a one-day protest on June 7. This action entails all union members utilizing their paid leave on that day, with the possibility of a full-scale strike if their demands are not met.
The union's decision comes amidst prolonged negotiations over wages that began at the start of the year. The primary demands include a 6.5% salary increase and a performance-based bonus linked to the company's earnings. A union spokesperson emphasized the necessity of this strike, citing "persecution against labour unions" and the company's persistent disregard for workers' rights.
In response, Samsung Electronics has affirmed its commitment to ongoing negotiations with the union. Despite these assurances, the announcement has already impacted the company's stock, which saw a 2% decline in trading on the Seoul exchange following the news.
As the world’s leading manufacturer of memory chips, smartphones, and televisions, Samsung Electronics plays a crucial role in global electronics supply chains. Analysts have expressed concerns that a full-scale strike could disrupt the company's computer chip production, potentially causing ripples across international markets.
This labor unrest marks a notable shift for Samsung, a conglomerate historically resistant to unionization until 2020. The change came in the wake of public scrutiny and legal challenges faced by the company, including the prosecution of its chairman for market manipulation and bribery.
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