Seoul/Hong Kong
“Time TV”
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The Nationwide Samsung Electronics Union (NSEU) stated on Wednesday throughout a press convention streamed on its official Youtube channel that its 28,000 members — slightly below 1 / 4 of the corporate’s complete workforce within the nation — would strike on June 7, following failed negotiations over pay and bonus preparations.
“We are able to now not afford to see an organization that has no will to barter,” union representatives stated, including “we’ll battle for staff’ rights and pursuits.”
Son Woomok, a union chief, informed “Time TV” that many NSEU members labored for Samsung’s flagship semiconductor unit.
“We’re demanding clear and honest efficiency bonuses and wage will increase,” he stated in an interview.
“There has by no means been a correct wage negotiation. It has all the time been carried out by asserting the (end result) on the labor-management council, which doesn’t embody our union, and the corporate telling us to simply accept it,” he added.
In an announcement to “Time TV”, a Samsung spokesperson stated: “The corporate stays dedicated to partaking in good religion negotiations with the union, and is making each honest effort to return to an settlement.”
The world’s largest reminiscence chipmaker has had a tough few years. A historic scarcity of laptop chips in the course of the Covid pandemic was adopted by falling demand final yr as shopper urge for food for electronics remained weak due to world financial uncertainty.
In January, Samsung reported an working revenue of simply 6.567 trillion received ($4.8 billion) for 2023, its weakest annual efficiency since 2009, based on the Wall Avenue Journal. Samsung additionally misplaced its crown as the highest smartphone maker globally.
However issues are wanting up for the corporate due to the AI increase.
It’s optimistic a few resurgence in demand for cell units this yr, notably with the rollout of recent merchandise, corresponding to AI-powered smartphones.
Final month, Samsung reported a greater than 10-fold rise in first-quarter working revenue amid forecasts of excessive demand for AI and high-end chips, an space during which it competes with Intel (INTC) and Taiwan’s TSMC.
The overwhelming majority of the world’s superior microchips are made in simply two locations: Taiwan and South Korea. Taiwan’s business is bigger and extra dominant, one thing South Korea is eager to problem.
