Samsung workers set to strike at worst possible time

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• More than 47,000 Samsung Electronics workers are gearing up for an 18-day strike after bonus payment negotiations between the company and its union collapsed.
• The strike is set to start on Thursday and will be limited to Samsung’s domestic chipmaking plants, raising concerns around the already constrained production of memory chips amid the ongoing shortage.
• While the union had agreed to mediation proposed by South Korea’s Labor Relations Commission (the details of which have not been made public), management at Samsung Electronics rejected the deal without explanation, Nikkei Asia reports.
• As part of its demands, the Samsung union is seeking performance bonuses equivalent to 15 percent of the company’s operating profit and the removal of a cap on bonuses of 50 percent of annual wages.