Samsung Electronics labor union reiterates demands for 15% performance-based payout

The largest labor union at Samsung Electronics on Monday reiterated its demand that the company allocate 15 percent of operating profit to employee performance-based bonuses and remove the payout cap, warning that mediation efforts could collapse if no progress is made. Choi Seung-ho, head of the union, reaffirmed the labor group's position ahead of follow-up mediation talks aimed at averting the union's planned 18-day strike beginning May 21. "We have continued to call for performance-based bonuses equivalent to 15 percent of operating profit, along with the removal of the payout cap and the institutionalization of the system," Choi told reporters ahead of the meeting at the National Labor Relations Commission in the central administrative city of Sejong. "If the company does not present a position on institutionalizing the scheme, we believe mediation efforts could break down as early as today," he added. The talks began Monday and are scheduled to continue through Tuesday. Last month, Samsung Electronics posted an operating profit of 57.23 trillion won for the first quarter, up from 6Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times