samsung

Roughly 30,000 Samsung employees, represented by the National Samsung Electronics Union (NSEU), began a three-day strike today in protest of stagnant wages. This marks the first major labor action in Samsung’s 55-year history.

The NSEU is demanding a 6.5% increase in annual compensation and a share of Samsung’s substantial profits. Samsung recently reported a whopping 933% profit increase in Q1 2024 and expects a 15-fold jump in operating profit for Q2 2024. The union also seeks an additional day of annual leave for its members.

Analysts believe the strike’s impact on production may be minimal due to Samsung’s highly automated facilities. However, the potential for extended walkouts and low morale could harm the company in the long run, especially considering the growing importance of AI technology and chip demand.

The NSEU’s Vice President, Lee Hyun-kuk, warns of extended strikes if Samsung fails to meet their demands. While Samsung has offered concessions on pay flexibility and leave, they haven’t budged on profit sharing or bonus structure equality.

Samsung has yet to comment on the strike. Both sides appear entrenched, raising the possibility of a protracted labor dispute.

Follow Techspace Africa on Facebook and Twitter. For the latest news, tech news, breaking news headlines, reviews and live updates check out tech-space.africa


Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

You may also like