… Workers' bonuses are contingent on the memory division making at least KRW 200 trillion $133 billion in profit from 2026 to 2028 and KRW 100 trillon $66 billion from 2029 to 2035. Samsung will pay part of those bonuses in company stock for at least 10 years. …
… The workers stand to earn massive bonuses worth millions of dollars if Samsung agrees to the union's demands, but the company called the union's terms "unacceptable." It said in a statement that the reason an agreement couldn't be reached was because "accepting the labor union's excessive demands … …
… The union had wanted a larger share of the bonuses to be spread equally among staff. According to Reuters, a memory chip worker on a base salary of around $50,000 could now be eligible for a total bonus of $416,000. It appears at least some employees have already found ways to spend those bonuses. …
… And while memory is hitting sales records, the other two aren’t doing so hot. Samsung wants to focus bonuses on memory employees – the 27,000 strong workforce can receive bonuses that are at least six times higher than those that employees in the LSI and foundry business will receive. …
… Read all comments on Samsung Shareholders Up In Arms Over The “Illegal” Incentives Deal That Will See Each Memory Division Worker Take Home ~$400,000 In Bonuses
Internal Samsung wage negotiation transcripts obtained by Reuters show the company proposed bonuses of 607% of annual salary for its memory chip division in March, while offering workers in its loss-making foundry and System LSI businesses between 50% and 100%. …
The global memory sphere has just been saved by the proverbial bell, or gavel in this instance: a court-issued partial injunction has now barred Samsung's unionized workers from going on a planned strike, one that could have aggravated the ongoing DRAM and NAND shortages by crippling Samsung's prod… …
… Similarly, the LSI division employees will take home around 160 million won ~$100,000 in bonuses. Given the 100x difference in the bonuses for Samsung workers in memory and mobile divisions, the situation has predictably turned explosive. …
… However, with potential bonuses that can exceed the lifetime earnings of workers in other sectors, competition for roles is sky-high. The bonuses are also reshaping decision-making within the companies themselves. …
… This demand stemmed from a comparison with SK hynix workers, who were guaranteed bonuses of $477,000 each this year , and almost doubled to $900,000 next year. Furthermore, these bonuses are guaranteed for the next ten years. …
