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SK hynix hit by labor unrest
Posted : 2021-02-04 16:22
Updated : 2021-02-04 16:47
SK Group Chairman Chey Tae-won, center, attends a ceremony commemorating the completion of SK hynix s new semiconductor-manufacturing plant called M16 in Icheon, south of Seoul, Feb. 1. / Courtesy of SK hynix
By Baek Byung-yeul
Unions at SK hynix are urging management to take a more equitable stance when calculating profit-sharing bonuses, claiming that the company gave lower-than-expected incentives despite the world s second-largest memory chip maker seeing more than an 84 percent increase in operating profit in 2020 from a year earlier.
The company notified its employees that it would provide profit-sharing bonuses, equivalent to 20 percent of their annual salaries, but the unions protested the management s decision, claiming the amount was insufficient compared to what employees at rival companies received.