Samsung’s management and workers have agreed to a 5.1 per cent pay raise for the year, after reaching an agreement with representatives over wages and extending maternity leave. This increase is higher than the 4.1 per cent hike from the previous year. Samsung Electronics cited boosting employee morale as a reason for this decision.
The world’s largest memory chip and smartphone maker, Samsung, has decided to raise wages by around 5 per cent despite global uncertainty. The company’s unionized workers, representing around 4 per cent of the total workforce, had initially called for a 6.5 per cent wage hike and engaged in negotiations with the management since late last year.
The agreement between Samsung’s management and workers signifies a positive step towards better compensation and benefits for employees. This move is aimed at boosting morale and ensuring that workers are adequately compensated for their contributions to the company’s success. Samsung’s decision to increase wages despite uncertain economic conditions shows its commitment to valuing its workforce and ensuring their well-being.
