Samsung workers approve massive bonus deal after big AI profits
Key takeaways
- The workers’ union said more than 73 percent of its members backed the agreement, which was struck last week after threats of an 18-day strike that had raised fears over the impact on the country’s economy.
- Frenzied global demand for the memory chips that power AI data centres has turbocharged Samsung’s earnings in recent months.
- Around 62,600 ballots from more than 95 percent of eligible union members were cast in an electronic vote over six days to Wednesday, the union said.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize Seoul: Samsung Electronics union members on Wednesday approved a deal with management securing massive annual bonuses, averting a major strike as the South Korean chip giant’s profits soar due to booming demand for artificial intelligence tools.
Under the agreement, around 78,000 employees — out of the company’s 125,000-strong domestic workforce — will each be eligible to receive a bonus of roughly $370,000 this year, based on a market estimate of annual operating profit.
The workers’ union said more than 73 percent of its members backed the agreement, which was struck last week after threats of an 18-day strike that had raised fears over the impact on the country’s economy.