NextFin News — SK Hynix has reached a revised wage and collective bargaining agreement with its labor unions under which profit-sharing bonuses will be paid half in cash and half in company shares.
About 57% of union members voted in favor of the deal. It replaces an earlier proposal of 40% cash and 60% stock that workers had rejected. The agreement concludes roughly two weeks of renegotiation.
SK Hynix previously committed to removing the cap on profit-sharing bonuses and allocating 10% of annual operating profit to employee bonuses for 10 consecutive years.
Explore more exclusive insights at nextfin.ai.
