Historic First Strike at Samsung: 28,000 Workers Protest Over Bonus Cuts and Demand Higher Pay

June 8, 2024
Historic First Strike at Samsung: 28,000 Workers Protest Over Bonus Cuts and Demand Higher Pay
  • 28,000 members of the Nationwide Samsung Electronics Union staged a one-day strike at Samsung Electronics in South Korea on Friday, June 7.

  • This strike marks the first in Samsung's history.

  • The strike was led by workers from the chip division protesting the absence of bonuses last year, which they perceive as a 30 percent pay cut.

  • Despite Samsung's significant increase in first-quarter operating profit, the union demands higher pay.

  • The majority of striking workers come from the chip division, but this is unlikely to impact chip production.

  • Last year, the chip division reported a loss due to increased demand for AI chips, leading to internal tensions.

  • Union leaders have indicated further actions if management does not engage in negotiations.

  • This strike challenges Samsung's handling of labor conflicts and could have far-reaching implications for the company and the tech industry.

  • Samsung faces competition in the AI chip market from local rival SK Hynix.

Summary based on 14 sources


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