- Jan 6, 2007
Hyundai unions rise up over yearly bonus
If labor had managed to eke out that last 2 percent of volume, they would have found 150 percent tucked in their envelopes. Unfortunately, the union isn't acknowledging that the reason for the near miss was their own doing. 2006 was rife with labor unrest for Hyundai. The unions kept striking in an effort to increase pay, while the Won climbed against the dollar, putting Hyundai in a bind between labor's outstretched hand and a vehicle that was suddenly more expensive than its competition. Disregarding the slip in market share, Hyundai's union kept ringing the bell for more pay, all the while forcing losses on Hyundai. Hyundai even lowered the production target to accomodate labor's inability to attain the original number. Hey, we'd love to get paid more for doing less, but demanding a bonus you didn't earn seems counterintuitive to us.
[Source: Digital Chosunilbo]