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STOCK MARKETS

Samsung Shares Drop on Strike Threat

Samsung shares dropped 7.6% as its largest labor union plans an 18-day strike from May 21.

Evelyn Lee
ByEvelyn Lee- Senior Editor
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Samsung Shares Drop on Strike Threat
Photo: Prepared by Bond.az

Bond.az - Samsung Electronics shares fell 7.6% on Friday after the company's largest labor union said it would proceed with a planned strike starting May 21.

The National Samsung Electronics Union remains committed to an 18-day strike, though it is open to new talks after June 7. Government-mediated negotiations collapsed earlier this week.

The union is demanding removal of bonus caps and a profit-sharing scheme tied to operating earnings. Workers also cite a compensation gap with rival SK Hynix.

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Samsung Shares Drop on Strike Threat | Bond.az