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Samsung union threatens firsts strike in tech giant’s history

Samsung is dealing with a testing time with revenue slumping because of weak demand for its reminiscence chips.

SeongJoon Cho | Bloomberg | Getty Photos

An influential Samsung Electronics employees union on Thursday warned that its members might stroll out over a wage dispute in what may very well be the South Korean tech big’s first strike in its historical past.

The Nationwide Samsung Electronics Union claims that Samsung administration has minimize the union out of wage negotiations.

The NSEU, which says it represents round 10,000 employees, or round 9% of workers, staged a press convention outdoors considered one of Samsung’s buildings in Seoul and demanded the tech big’s Chairman Lee Jae-yong be part of the discussions.

Lee Hyun-kuk, a consultant of the union, stated it will go on strike after a session with its members however stated it is dependent upon the “angle” of Samsung Chair Lee, and his willingness to barter, in response to native media experiences that have been posted on the union’s web site.

“It is dependent upon the angle of chairman Lee Jae-yong. We sincerely ask him to come back to the desk for talks,” the NSEU’s Lee stated, in response to Bloomberg.

Samsung was not instantly obtainable for remark when contacted by CNBC.

If the walkout goes forward, it will be the primary strike for the reason that founding of Samsung Electronics in 1969. Samsung Electronics encompasses Samsung’s shopper {hardware}, semiconductor, show and cell service companies.

Stress with employees comes at a delicate time for the world’s greatest smartphone and reminiscence chip maker, after its working revenue within the first quarter plunged to its lowest stage since 2009. Samsung has been damage by falling costs and demand for its reminiscence chips, which is its greatest revenue driver.

The union is asking for a 6% wage improve for employees. Samsung administration stated final month it will improve wages by round 4%, in response to the union.