مصر موتورز مجتمع السيارات - Hyundai, union reach tentative labor deal

Filed under: <a href="http://www.autoblog.com/category/hirings-firings/" rel="tag">Hirings/Firings/Layoffs</a>, <a href="http://www.autoblog.com/category/plants-manufacturing/" rel="tag">Plants/Manufacturing</a>, <a href="http://www.autoblog.com/hyundai/" rel="tag">Hyundai</a>, <a href="http://www.autoblog.com/kia/" rel="tag">Kia</a>, <a href="http://www.autoblog.com/category/south-korea/" rel="tag">South Korea</a><a href="http://www.reuters.com/article/2013/09/05/us-hyundai-strike-idUSBRE9840G020130905"><i mg alt="South Korea Hyundai Strike" data-caption="Workers of Hyundai Motor shout slogans before they join a rally on an assembly line at Hyundai Motor Co. plant in Ulsan, south of Seoul, South Korea, Tuesday, Aug. 20, 2013. Hyundai?s labor union said 46,000 workers will stage a four-hour strike over two days this week as the union increases pressure on the automaker for higher wages and benefits. (AP Photo/Lee Sang-hyun, Yonhap) KOREA OUT" data-mep="5854" src="http://o.aolcdn.com/dims-shared/dims3/GLOB/crop/2331x1569+0+0/resize/628x417!/format/jpg/quality/85/http://hss-prod.hss.aol.com/hss/storage/adam/1f911b37720882203da9cd9b5 a89acfd/475610287d4d4ac7a99470e4e 7c49e54.jpeg" /></a> 
 
<a href="http://www.reuters.com/article/2013/09/05/us-hyundai-strike-idUSBRE9840G020130905">Ac cording to Reuters</a>, South Korea's labor unions may have reached a tentative deal with <a href="http://www.autoblog.com/hyundai/">Hyundai</a> following a compromise between the two sides on wages. Workers have staged a number of stoppages since August 20, which have cost the South Korean giant 1.02 trillion won - around $1.1B US. It also represents just over 50,000 units of production. That vehicle total sounds like a lot, but it's a small enough figure that Hyundai can apparently catch up with weekend and overtime shifts. We'd wager that this is <a href="http://www.autoblog.com/2013/08/19/strike-in-korea-could-mean-us-shortage-hyundai-kia/">why US inventories haven't been hit quite so hard</a> aside from <a href="http://www.autoblog.com/2013/09/04/how-new-car-shortages-may-impact-your-buying-experience/">the battering already taking place</a>. The proposal will now go before the union's rank and file. 
 
If ratified, the new agreement will see workers getting a 5.14-percent raise in base salaries, along with 8.5-million-won (roughly $7,800) bonuses. Those concessions are a far cry compared to what the union was initially demanding, though. Early proposals included a 56.25-gram gold medal for each employee (worth about $2,400) and a 10-million won bonus (about $9,100) for employees whose children chose not to attend college. The union also sought a bonus worth two months' salary for workers that have been with the company for over 40 years, but this was negotiated down to a flat rate of six-million won ($5,464). 
 
Based on Reuters' report, the work stoppages must have taken a real toll on Hyundai - its domestic sales dropped 20 percent last month, while exports were down nine percent. Those startling figures must have put some fire under the Hyundai bargaining team.<a href="http://www.autoblog.com/2013/09/05/hyundai-union-reach-tentative-labor-deal/">Hyundai, union reach tentative labor deal</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Thu, 05 Sep 2013 18:00:00 EST. Please see our <a href="/rss-term-of-use/">terms for use of feeds</a>.<h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.autoblog.com/2013/09/05/hyundai-union-reach-tentative-labor-deal/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.autoblog.com/forward/20713021/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.autoblog.com/2013/09/05/hyundai-union-reach-tentative-labor-deal/#comments" title="View reader comments on this entry">Comments</a>

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