SK Hynix employees form union aiming to represent nearly 35,000
SK Hynix employees just started a new labor union, aiming to unite nearly 2,500 workers from different roles and locations, including the Icheon and Cheongju factories.
Unlike existing unions, this one wants to represent nearly 35,000 employees in South Korea.
Their main goal? To recruit over one-half the workforce so they can have more say in wage negotiations.
SK Hynix cash bonus swap criticized
The push for this union, amid disagreements over SK Hynix's plan to swap cash bonuses for stock-based rewards, a move that echoes what Samsung did earlier this year.
While a deal agreed last year promises 10% of annual operating profit for employee bonuses in cash, many are worried about stock compensation and how market ups and downs could affect their pay.
Investors are also concerned that these changes might impact funds available for investment or shareholder returns.