ID :
191187
Sun, 06/26/2011 - 14:40
Auther :
Shortlink :
https://oananews.org//node/191187
The shortlink copeid
SC First Bank labor union to go on strike
(ATTN: ADDS more details from para 5)
SEOUL (Yonhap) - Unionized workers at SC First Bank on Sunday said they will stage an indefinite general strike to protest management's efforts to introduce a performance-based pay system.
The labor union of the South Korean unit of Standard Chartered Plc said workers will not report to work starting Monday.
A general strike by SC First Bank would mark the first time that workers at a major South Korean lender engage in a walkout since an incident involving a strike by employees of the former Hanmi Bank in June 2004.
Union representatives claimed that despite requests, the bank's management has failed to consider views and concerns voiced by workers in regard to the introduction of a new pay arrangement.
"The final proposal forwarded by a task force on this issue is not much different from the offers made in the past," said a union representative.
The two sides wanted to hold last-minute talks over the weekend to stave off a strike, but no meetings took place.
On Friday, the bank said it would set up a performance management task force, as requested by the labor union, adding that its modified proposals include no forced labor restructuring and a 5 percent increase in the average base pay of union members.
SC First Bank is the first lender in South Korea to seek to introduce a performance-based pay system, saying that the new pay system will help provide better services to customers by sparking competition in the fast-changing local banking sector.
In protest against the management's move, unionized workers at SC First Bank staged a one-day strike on May 30, saying that the performance-based pay system is merely aimed at reducing labor costs.
Related to the planned strike, SC First Bank said it will use all non-union workers and those who have opted not to go on strike to reduce inconveniences for bank customers.
But there is a chance that customers may experience delays in such areas as getting loans and being issued new credit cards. Of the 6,500 employees at the commercial bank, half are non-union members.
Standard Chartered acquired Korea First Bank for 3.4 trillion won (US$3.1 billion) in April 2005, the largest-ever takeover by the British banking giant, and renamed it SC First Bank in September of the same year.
SEOUL (Yonhap) - Unionized workers at SC First Bank on Sunday said they will stage an indefinite general strike to protest management's efforts to introduce a performance-based pay system.
The labor union of the South Korean unit of Standard Chartered Plc said workers will not report to work starting Monday.
A general strike by SC First Bank would mark the first time that workers at a major South Korean lender engage in a walkout since an incident involving a strike by employees of the former Hanmi Bank in June 2004.
Union representatives claimed that despite requests, the bank's management has failed to consider views and concerns voiced by workers in regard to the introduction of a new pay arrangement.
"The final proposal forwarded by a task force on this issue is not much different from the offers made in the past," said a union representative.
The two sides wanted to hold last-minute talks over the weekend to stave off a strike, but no meetings took place.
On Friday, the bank said it would set up a performance management task force, as requested by the labor union, adding that its modified proposals include no forced labor restructuring and a 5 percent increase in the average base pay of union members.
SC First Bank is the first lender in South Korea to seek to introduce a performance-based pay system, saying that the new pay system will help provide better services to customers by sparking competition in the fast-changing local banking sector.
In protest against the management's move, unionized workers at SC First Bank staged a one-day strike on May 30, saying that the performance-based pay system is merely aimed at reducing labor costs.
Related to the planned strike, SC First Bank said it will use all non-union workers and those who have opted not to go on strike to reduce inconveniences for bank customers.
But there is a chance that customers may experience delays in such areas as getting loans and being issued new credit cards. Of the 6,500 employees at the commercial bank, half are non-union members.
Standard Chartered acquired Korea First Bank for 3.4 trillion won (US$3.1 billion) in April 2005, the largest-ever takeover by the British banking giant, and renamed it SC First Bank in September of the same year.
