According to sources on Friday, Samsung’s management and employees decided to give each other an average annual wage increase of 5.1%.
The sources tell Yonhap news agency that the world’s biggest manufacturer of memory chips and smartphones came to a salary and maternity leave extension agreement with the representatives of its workers.
The 5.1% pay increase for this year is more than the 4.1% wage increase for the prior year.
In spite of the ongoing unpredictability in the world, Samsung Electronics stated it has decided to increase wages by about 5% in order to improve staff morale.
In a related development, since late last year, Samsung’s unionised employees—roughly 4% of the company’s overall workforce—have been negotiating raises of 6.5% with management.
Read More
IPL2024: In a six-hitting run feast, SRH defeats MI by 31 runs, negating Tilak’s efforts
IPL2024: Gujarat Titans are destroyed by 63 runs by the dominant Chennai Super Kings