Business · Companies · 17 hrs ago
POSCO union members to vote on tentative pay deal on Nov. 7
POSCO and its union reached a tentative pay deal on Oct.
30 after months of talks.
The agreement covers workers represented by the POSCO union in South Korea.
It includes a 2.6% basic pay rise, a 6 million won lump-sum payment and other benefits.
Union members will vote on the deal on Nov.
7, from 6 a.m.
to 5 p.m.
More than half must vote in favor for the deal to be ratified.
Talks had stalled after starting in June, and the union held two partial strikes in September.
The tentative agreement followed a threat to expand the strike, but the sources do not say what will happen if members reject the deal.
POSCO union members will vote on November 7 on a tentative pay deal reached with the company.
The vote will run from 6 a.m. to 5 p.m., and the deal will be approved if a majority votes in favor.
The proposed package includes a 2.6% basic-pay increase and a one-time payment of 6 million won.
The union and company reached the tentative agreement on October 30 after months of talks and union strikes.
- Who
- POSCO union members will vote on the deal negotiated by the POSCO labor union and the company.
- What
- Members will vote on whether to approve a tentative pay agreement.
- When
- November 7, from 6 a.m. to 5 p.m.
- Where
- Not stated
- Why
- The vote will determine whether members ratify the tentative agreement.
This story does not have two clearly opposing sides.
The union began pay negotiations with the company.
The union held two rounds of partial strikes after talks stalled.
The union and company reached a tentative pay agreement.
The union had said it would begin a third, open-ended strike if negotiations made no progress.
Union members are scheduled to vote on the tentative agreement.
- Vote date
- November 7, 6 a.m. to 5 p.m.
- Approval threshold
- A majority vote in favor
- Basic-pay increase
- 2.6%
- One-time payment
- 6 million won
- Agreement date
- October 30
1 source
What people are saying
Our struggle has produced today's result
This tentative agreement is the best result the leadership could achieve by respecting the members' wishes and making every effort to the end