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Workers at three Hyundai locations in South Korea have walked off the job over a lack of progress in wage negotiations. The stoppages, scheduled to last a total of 12 hours over three days, will cost Hyundai almost 2,700 vehicles and $38M, but it is not said to have “significant impact” on the company’s share price or product output.
The Confederation of Trade Union employees are looking for a 9.1-percent raise and other unnamed incentives, while the automaker states that it cannot negotiate with the union while Chairman Chung Mong-koo remains in prison on bribery charges.
[Source: BBC]