Navigation
kia motors announcement

Kia Motors Corp. approves a tentative labor deal after a three-month negotiation

Updated September 18, 2018

Earlier in the day, Monday, 27 August 2018, the labor union of South Korea’s No. 2 ranked automaker, Kia Motors Corp., announced a tentative labor deal for the upcoming year, 2019, has been agreed between them and the company’s unionized workers, thus concluding a three-month negotiation.

According to the labor union, nearly a third of the 26,464 union workers voted for the wage package and collective bargaining agreement, after nine rounds of negotiations.

Both sides reached an agreement to raise the standard monthly wage of workers by 45,000 won (US$40.4) and also additionally offering bonuses of almost 250 percent of basic pay plus 2.8 million won in extra compensation.

As per reports, The deal is set to come into effect in April 2019.

According to the agreement reached, Kia would create a standard wage reform committee for the purpose of tackling the dicey issue of illustrating to what extent bonuses should be considered as part of a worker’s regular salary.

The standard wage is a major concern because it acts as the base measure for severance payments and also calculating the pay rate for overtime.

 

Categories:

Tags: , , ,

Jacob Doyle
About Jacob Doyle

I am a Chicago-born writer with a thirst for everything automotive. I live by a simple rule; travel far, work hard and never stop writing. If I am not writing away, you can find me wrenching on my 1989 Ram Charger or wrecking something with wheels.

At Autowise, we envision ourselves as not just a automobile blog or an automobile news website, instead we see our website as a platform to connect all automobile enthusiast and provide them with all the information they need.

Office Address: AutoWise, 809 N 30th St. Rogers, AR 75756
Emailcontact@autowise.com

© Copyright 2010 - 2018 AutoWise. All rights reserved.