South Korea's largest company Samsung Electronics (Samsung Electronics) has adopted a different way to reduce costs amidst the adverse economic conditions created around the world. Many companies around the world are currently laying off their employees to reduce costs. At the same time, Samsung is going to work by reducing the increase in the salary of the employees.
Salary of these people will not increase
Samsung is the world's largest memory chip and smartphone maker. Talks were on between the company's management and employees about measures to reduce costs. According to South Korea's Yonhap news agency, after the talks, both sides have agreed that in view of the adverse conditions, there will be no increase in the salary scale of the members of the board of directors, while the rate of increase for the employees will be higher than normal. Will be less
Got so much hike last year
After this agreement, Samsung employees are going to get an average hike of 4.1 percent in their salary. Last year, the employees of the company got a hike of 9 per cent. This was the biggest hike in a decade, but was less than the demand of the employees. Now the hike is going to be less than half as compared to last year. The employees of the company have agreed to this reduction in view of challenges like poor performance, chip crisis and global economic recession.
No official announcement
In the talks between Samsung's management and employees, apart from the salary hike, some issues were also agreed upon, including some issues related to labor policies. Now the working hours will be reduced for those female employees of Samsung who will become pregnant. However, now no official information has been given by the company or the employees. The news agency says that it has been announced internally.
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