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Samsung union threatens firsts strike in tech giant’s history

Samsung is going through a testing time with revenue slumping as a result of weak demand for its reminiscence chips.

SeongJoon Cho | Bloomberg | Getty Photographs

An influential Samsung Electronics staff union on Thursday warned that its members may stroll out over a wage dispute in what could possibly be the South Korean tech large’s first strike in its historical past.

The Nationwide Samsung Electronics Union claims that Samsung administration has lower the union out of wage negotiations.

The NSEU, which says it represents round 10,000 employees, or round 9% of staff, staged a press convention exterior certainly one of Samsung’s buildings in Seoul and demanded the tech large’s Chairman Lee Jae-yong be a part of the discussions.

Lee Hyun-kuk, a consultant of the union, stated it might go on strike after a session with its members however stated it is dependent upon the “angle” of Samsung Chair Lee, and his willingness to barter, in keeping with native media stories that have been posted on the union’s web site.

“It is dependent upon the angle of chairman Lee Jae-yong. We sincerely ask him to come back to the desk for talks,” the NSEU’s Lee stated, in keeping with Bloomberg.

Samsung was not instantly accessible for remark when contacted by CNBC.

If the walkout goes forward, it might be the primary strike because the founding of Samsung Electronics in 1969. Samsung Electronics encompasses Samsung’s client {hardware}, semiconductor, show and cell service companies.

Stress with staff comes at a delicate time for the world’s largest smartphone and reminiscence chip maker, after its working revenue within the first quarter plunged to its lowest degree since 2009. Samsung has been damage by falling costs and demand for its reminiscence chips, which is its largest revenue driver.

The union is asking for a 6% wage improve for staff. Samsung administration stated final month it might improve wages by round 4%, in keeping with the union.