Samsung memory chip workers secure six-figure bonuses after tentative deal

1 min read
Source: The Verge
Samsung memory chip workers secure six-figure bonuses after tentative deal
Photo: The Verge
TL;DR Summary

Details emerged of a tentative deal between Samsung and its semiconductor employees to avert an 18‑day strike, with average bonuses around $340,000 and a total package that combines a cash bonus of 50% of annual pay with stock bonuses equal to 10.5% of operating profits; 40% of the stock pot goes across the whole semiconductor division and the rest to memory chips. A memory-chip worker on about $50k base could see total bonuses around $416k. Payouts are still smaller than SK Hynix, and the stock-heavy plan is conditional on profit milestones; union votes are expected to approve.

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