An employee walks past the logo of SK Hynix at its headquarters in Seongnam, South Korea, on April 25, 2016. (Reuters-Yonhap) Unionized workers at SK hynix have rejected a tentative wage deal that would have paid 60 percent of their performance bonus in company shares, with 50.1 percent voting against the agreement.The production workers’ union held the vote Monday and Tuesday among about 16,000 eligible members, rejecting the tentative agreement reached with management after two months of negotiations.Under the proposed deal, 40 percent of the company’s excess profit-sharing bonus, known as PS, would have been paid in cash, while the remaining 60 percent would have been paid in company shares.Some union members had opposed the stock-based payment and demanded that the entire performance bonus be paid in cash, making the outcome difficult to predict.With the agreement rejected, the production workers’ union is expected to resume negotiations with management.Last year, SK hynix abolished the cap on performance bonuses and decided to allocate 10 percent of its operating profit to the performance bonus pool.
milaya@heraldcorp.com
