Business · Datacenter Dynamics
More than 30,000 Samsung workers take to the streets to demand greater share of AI profits
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More than 30,000 Samsung Electronics workers have attended a rally in Pyeongtaek, South Korea, to demand that the tech giant share a greater percentage of its AI-driven profits with its workers.
Key facts
- This would result in workers receiving a share of around $27 billion, averaging more than $400,000 per worker
- Should Samsung and the union fail to reach an agreement, an 18-day strike will commence on May 21
- More than 30,000 Samsung Electronics workers have attended a rally in Pyeongtaek, South Korea, to demand that the tech giant share a greater percentage of its AI-driven profits with its workers
- The walkout will be the second instance of strike action led by the NSEU, with the first taking place in June 2024
Summary
Per a report from Bloomberg, labor unions, including the National Samsung Electronics Union (NSEU), are asking that workers within the company’s chip division receive a share of 15 percent of its operating profits, in addition to the removal of the 50 percent bonus cap and a seven percent pay increase. This would result in workers receiving a share of around $27 billion, averaging more than $400,000 per worker. The union has rejected that deal, pointing to compensation packages received by workers at Samsung’s rival SK Hynix, where the bonus cap has been removed, and a 10 percent share of profits among workers will likely see them receive $477,000 this year, and almost $900,000 next year, according to Korea JoongAng Daily.