South Korean media outlet Yonhap said that a strike will begin Thursday. More than 47,000 workers are expected to join the strike
A strike involving more than 47,000 Samsung Electronics workers will begin on Thursday after wage negotiations between the company and its union broke down, sending shares of the South Korean chip giant down 3%.
The union had agreed to the mediation proposal by South Korea's National Labor Relations Commission, but it was rejected by Samsung Electronics, the union spokesperson Choi Seung-ho said in a statement Wednesday.
Choi added that Samsung had requested more time for negotiations. However, the company said on Wednesdy at 11 a.m. local time that "no decision has been made," Choi said, leading to the impasse.
"We express deep regret that the post-mediation process was terminated due to the delay in management's decision-making," Choi added.
A South Korean court had previously ordered that the walkout not interfere with safety protection facilities or obstruct work, to prevent damage to facilities and wafer deterioration.
The union's demands had revolved around Samsung's performance-based bonus system. It is seeking performance bonuses equivalent to 15% of Samsung's operating profit, the removal of bonus payout caps, and a formalized bonus structure, among other measures.
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