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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

The Samsung labor union has initiated its inaugural strike following the impasse in compensation discussions.

image credit:veeteezy.com/ Samsung logo on transparent background image credit:veeteezy.com/ Samsung logo on transparent background
image credit:veeteezy.com/ Samsung logo on transparent background image credit:veeteezy.com/ Samsung logo on transparent background

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The Nationwide Samsung Electronics Union reported having 28,000 members during a press conference on Wednesday, which was broadcast on their official YouTube channel. This account, which employs around 25% of the company’s workforce in the country, will go on strike on June 7. This decision was made when discussions about pay and bonuses stalled.

Union members stated, “It is no longer financially feasible for us to tolerate a company that refuses to negotiate.” They made it clear that they would advocate for workers’ rights and interests.

Son Woomok of the NSEU stated that many of their members work at Samsung’s major semiconductor division.

“During the interview, he discussed our demand for clear and fair performance bonuses and pay raises.”

A Samsung representative told CNN that the firm is willing to have meaningful talks with the union in order to find an agreement that benefits everyone.

A large memory chip manufacturer has experienced numerous issues in recent years. People did not want to buy electronics last year due to the COVID pandemic, which resulted in a severe scarcity of computer chips. This caused people to want less of it.

 

However, the firm has a better chance now that AI is gaining popularity.

One key reason for this is that new, creative products, such as AI-powered smartphones, are expected to increase demand for mobile devices this year.

Samsung announced last month that its operational revenue for the first quarter had increased by more than tenfold. Samsung’s competition with Taiwan’s TSMC and Intel (INTC) in the market for AI and high-end CPUs was what caused this increase.

 

 


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