Report: Hyundai Heavy Industries’ Workers Strike Again
- Business & Finance
Unionized workers of the South Korean shipbuilder Hyundai Heavy Industries held four-hour strike on Wednesday, October 17, Yonhap news agency reported.
A similar protest was planned for Thursday, October 18, in anticipation of a commission decision on proposed wage cuts.
Namely, the workers are said to be protesting against the proposed 40 pct pay cut to employees of the company’s troubled offshore division who opt to go on paid leave. The workers are legally entitled to 70 pct of the average monthly wage, however, companies can be allowed by the relevant commission to pay lower wages in certain cases.
The latest partial strike follows several protests staged over the past few months as HHI’s workers joined forces in opposing the early retirement and unpaid leave plans.
The industrial actions come on the back of Hyundai Heavy’s efforts to keep its businesses afloat amid diminishing shipbuilding orders. Specifically, HHI hasn’t received an order for its offshore division since 2014 amid a downturn in the offshore oil and gas sector.
As a result, the company said it would temporarily shut down its offshore shipyard, impacting some 2,400 workers, to save money.
World Maritime News Staff