Business

Hyundai Motor And Union Reach Historic Wage Agreement, Avoid Strike

In a significant milestone, Hyundai Motor Company and its labor union have concluded their sixth consecutive year of wage negotiations without a strike. The union members overwhelmingly approved the tentative agreement, which includes the highest wage increase in the company’s history.

The agreement includes a 4.65% increase in basic monthly pay, a one-time performance-based bonus, and 25 shares in the company for each employee. Additionally, the company agreed to extend the maximum reemployment period for retired skilled workers from one to two years.

Also Read: FPI Community To Play Key Role In Placing India As Third Largest Economy

This historic agreement marks a significant achievement for both the company and the union, avoiding a strike since 2019. The union had planned to go on strike, but withdrew the plan after management agreed to the highest-ever wage raise and the two-year reemployment program for skilled retired workers.

A signing ceremony is scheduled for Monday to formalize the agreement. Hyundai expressed its commitment to fulfilling its social responsibilities and working together with the union to prepare for a better future.

This agreement sets a positive tone for the company’s future and demonstrates the strength of the union-management relationship at Hyundai Motor Company.

Richa Kaushik

Recent Posts

Hina Khan Hails 11 Years Of PM Modi’s Leadership; Highlights National Progress

As the nation marks 11 years under PM Modi's leadership, actress Hina Khan shares her…

2 hours ago

Subhash Ghai Hails PM Modi’s Transformative Vision For India

Subhash Ghai has praised PM Narendra Modi’s leadership for catalysing India’s growth and changing the…

3 hours ago

India & Central Asia Boost Rare Earth Cooperation At Delhi Meet

India and five Central Asian nations have agreed to deepen cooperation on rare earths and…

3 hours ago

PM Modi’s Beej Se Bazaar Tak Vision Reshapes Indian Agriculture

Prime Minister Modi has redefined Indian agriculture with the ‘Beej Se Bazaar Tak’ vision, transforming…

4 hours ago

EV Sales Cross 4% Mark In May; Signalling Steady Shift To Green Mobility

EV sales topped 4% of passenger vehicle retail in May 2025, signalling growing demand for…

4 hours ago

Self-Reliant Defence Industry Marks India’s Strategic Security Ascent

One year into Modi 3.0, reforms have reduced poverty, strengthened defence, and accelerated the digital…

4 hours ago