ID :
184004
Tue, 05/24/2011 - 08:41
Auther :
Shortlink :
https://oananews.org//node/184004
The shortlink copeid
Labor union of SC First Bank to go on strike
SEOUL, May 24 (Yonhap) -- Unionized workers of SC First Bank said Tuesday they plan to start a general strike next week in protest against the management's move to introduce a performance-based pay system.
The labor union of the South Korean unit of Standard Chartered Plc said its members from nationwide branches plan to gather in Seoul on Monday in opposition to the management's push to overhaul the current seniority-based pay system.
"We have decided to stage a general strike as the management refuses to budge over the issue," a union official said. "Amid the lack of a standardized assessment system, the management is just trying to cut salaries or give workers disadvantages in promotion."
The union, however, didn't say how long the labor action will last.
SC First Bank is the first bank in South Korea to push for introducing a performance-based pay system, saying that the new pay system will help provide better services to customers by sparking competition.
But the labor union claims that the performance-based pay system is merely aimed at reducing labor costs.
Standard Chartered acquired Korea First Bank for 3.4 trillion won (US$3.1 billion) in April 2005 and renamed it SC First Bank in September of the same year, the largest-ever takeover by the British banking giant.
sooyeon@yna.co.kr
The labor union of the South Korean unit of Standard Chartered Plc said its members from nationwide branches plan to gather in Seoul on Monday in opposition to the management's push to overhaul the current seniority-based pay system.
"We have decided to stage a general strike as the management refuses to budge over the issue," a union official said. "Amid the lack of a standardized assessment system, the management is just trying to cut salaries or give workers disadvantages in promotion."
The union, however, didn't say how long the labor action will last.
SC First Bank is the first bank in South Korea to push for introducing a performance-based pay system, saying that the new pay system will help provide better services to customers by sparking competition.
But the labor union claims that the performance-based pay system is merely aimed at reducing labor costs.
Standard Chartered acquired Korea First Bank for 3.4 trillion won (US$3.1 billion) in April 2005 and renamed it SC First Bank in September of the same year, the largest-ever takeover by the British banking giant.
sooyeon@yna.co.kr
