Samsung in last-minute talks to avert May 21 strike
Business
Samsung is in intense last-minute negotiations with its labor union to stop a major strike set for May 21, a move that could seriously disrupt global chip supplies.
The talks are mainly stuck on how bonuses are handled, and previous attempts at a deal haven't worked out so far.
Samsung union seeks 15% profit-linked bonuses
The union is pushing for bigger bonuses (15% of operating profits, no caps), higher pay and extra perks like more paid leave for parents and an extra summer day off.
If there's no agreement, up to 40,000 workers could walk out, potentially costing Samsung tens of trillions of won and putting a dent in its annual profits by more than $28 billion, according to JPMorgan.
Both sides hope things can be resolved before it comes to that.