Unionized workers at Hyundai Motor Co. reached an agreement with management Wednesday on a year-end bonus and other issues, ending a weeks-long labor dispute at the nation's top automaker.
The agreement came as the union accepted the company's demand that the bonus payment be delayed until they meet the production target, both sides said.
The labor union also dropped its demand for the company to withdraw a lawsuit against its executive members for alleged involvement in violent protests, sources said.
Previously, Hyundai Motor promised to pay each employee 100 percent -- instead of 150 percent -- of his or her monthly salary as a year-end bonus, citing the missed production target last year.
The bonus cut was in line with an agreement with the union, Hyundai said.
The 43,000-member union will return to work, ending partial strikes which started earlier this week. It also has rejected extra work since Dec. 28 to press its demand.
Ulsan, Jan. 17 (Yonhap News)
Hyundai Motor union reaches agreement with management on bonus payment |
