Employees at SK Hynix Inc. (NASDAQ:SKHY) have rejected a proposed wage deal, prompting a resumption of negotiations.
On Tuesday, SK Hynix’s workers voted against a preliminary wage agreement that was reached after two months of discussions. The electronic vote saw 93.8% of the union’s members participate, with 50.08%, or 7,535 members, voting against the deal, reported Yonhap News Agency.
Both the management and the union are set to restart negotiations. The primary focus of the upcoming discussions is expected to be the performance-based incentive payment scheme, a significant sticking point in the previous negotiations. The union had also rejected tentative agreements in 2023 and 2024, leading to renewed discussions.
SK Hynix did not immediately respond to Benzinga’s request for comments.
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