In what comes as a huge relief for the upper echelons of Samsung's management, the company's unionized workers have just approved the proposed incentives-laden wage deal with an overwhelming majority, removing the threat of a prolonged strike and the attendant disruption in its production cadence.
Each worker in Samsung's semiconductor division now stands to earn an average of 509 million won ($370,000) this year
As expected, Samsung's semiconductor union that spans 62,616 workers has just voted with a 74 percent majority to approve the proposed incentives-laden wage deal. Interestingly, the deal only received a 21.1 percent support from the union that spans the entirety of Samsung's workers, including those in its mobile division, highlighting the sharp divide that still exists within Samsung as a cohesive entity.
Under the terms of the deal, Samsung's semiconductor employees are now all set to receive a cash bonus of up to 50 percent of their pay, as well as a special all-stock performance bonus that is equal to 10.5 percent of the tech behemoth's annual operating profits, provided that such profits exceed 200 trillion won ($132 billion) from 2026 to 2028 and 100 trillion won ($66 billion) from 2029 to 2035.
As such, Samsung's semiconductor workers now stand to gain an average of 509 million won ($370,000) in all-stock performance bonuses, based on Samsung's expected operating profit of 331 trillion won this year.
The situation, however, is less than ideal for Samsung's employees working in other divisions. For instance, Samsung Mobile employees will take home just 6 million won (~$4,000) under the new deal. Similarly, the LSI division employees will take home around 160 million won (~$100,000) in bonuses.
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