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South Korea's top automaker, has reached another preliminary wage deal with its unionised workers, the company said on Tuesday.
The deal, which still needs to be approved by union members, includes a 5.61 percent rise in base salary, a one-off payment of 4 million won ($3,548) and a bonus for 2008 of 300 percent of monthly salary for each employee.
Earlier this month, Hyundai's unionised employees vetoed a deal that included a 5.61 percent rise in base salary, a one-off payment of 3 million won and a bonus of 300 percent of monthly salary.
That compares with last year's 5.8 percent base rise and 2 million won bonus per employee.
The company and the union also agreed to reduce total working hours to 17 hours a day from 20 hours from next year, but to keep production volumes steady.
Hyundai's unionised workers plan to hold a vote to approve the deal on Thursday.
Workers staged 12 partial strikes from July 2 during the wage negotiations, costing the company 44,645 vehicles in lost output, Hyundai said.
But union members usually make up production losses with overtime work once they reach wage deals.
The deal, which still needs to be approved by union members, includes a 5.61 percent rise in base salary, a one-off payment of 4 million won ($3,548) and a bonus for 2008 of 300 percent of monthly salary for each employee.
Earlier this month, Hyundai's unionised employees vetoed a deal that included a 5.61 percent rise in base salary, a one-off payment of 3 million won and a bonus of 300 percent of monthly salary.
That compares with last year's 5.8 percent base rise and 2 million won bonus per employee.
The company and the union also agreed to reduce total working hours to 17 hours a day from 20 hours from next year, but to keep production volumes steady.
Hyundai's unionised workers plan to hold a vote to approve the deal on Thursday.
Workers staged 12 partial strikes from July 2 during the wage negotiations, costing the company 44,645 vehicles in lost output, Hyundai said.
But union members usually make up production losses with overtime work once they reach wage deals.
