Lates News

SK Hynix and its union reached a new wage and collective bargaining agreement, raising the cash portion of profit-sharing bonuses to 50%, with the remaining 50% paid in company stock. About 57% of union members voted in favor of the new agreement, after the company's earlier proposal of a 40:60 cash-to-stock split was rejected by the union. The agreement ends about two weeks of renegotiations. SK Hynix agreed last year to scrap the cap on profit-sharing bonuses and to allocate 10% of annual operating profit to employee bonuses for 10 consecutive years.