ID :
202241
Fri, 08/19/2011 - 06:18
Auther :
Shortlink :
https://oananews.org//node/202241
The shortlink copeid
SC First Bank labor union to scale back strike
SEOUL, Aug. 19 (Yonhap) -- The labor union of SC First Bank said Friday that it plans to scale back its all-out labor strike starting late August, about two months after it launched the work stoppage in opposition to the bank's move to adopt a merit pay scheme.
Unionized workers at the Korean unit of Standard Chartered Plc have decided to change their method of protest and plan to partially return to workplaces from Aug. 29, said Bae Kwang-jin, a spokesman for the labor union.
Bae said unionized members plan to resume work, but will only work from Monday to Thursday and hold a rally every Friday in front of the bank's headquarters until their request is accepted.
Irked by a management plan to adopt a performance-based pay system, about 2,900 unionized workers at the Korean unit of Standard Chartered Plc have been on strike since late June at a resort in Sokcho, 213 kilometers east of Seoul. The walkout marked the longest strike in the history of the local banking sector.
SC First Bank is the first lender operating in South Korea to seek an overhaul of the seniority-based salary scheme, inviting strong opposition from its labor union, which says the move is aimed merely at cutting labor costs and does not jibe with Korean culture.
But the management, led by chief executive Richard Hill, was also adamant in introducing the pay system, saying that the bank cannot continue to pay out high salaries without growth.
The strike has strained both the management and the labor union as the prolonged walkout is increasing inconveniences for bank customers. The bank has temporarily shut down about 10 percent of its nearly 400 branches.
Unionized workers at the Korean unit of Standard Chartered Plc have decided to change their method of protest and plan to partially return to workplaces from Aug. 29, said Bae Kwang-jin, a spokesman for the labor union.
Bae said unionized members plan to resume work, but will only work from Monday to Thursday and hold a rally every Friday in front of the bank's headquarters until their request is accepted.
Irked by a management plan to adopt a performance-based pay system, about 2,900 unionized workers at the Korean unit of Standard Chartered Plc have been on strike since late June at a resort in Sokcho, 213 kilometers east of Seoul. The walkout marked the longest strike in the history of the local banking sector.
SC First Bank is the first lender operating in South Korea to seek an overhaul of the seniority-based salary scheme, inviting strong opposition from its labor union, which says the move is aimed merely at cutting labor costs and does not jibe with Korean culture.
But the management, led by chief executive Richard Hill, was also adamant in introducing the pay system, saying that the bank cannot continue to pay out high salaries without growth.
The strike has strained both the management and the labor union as the prolonged walkout is increasing inconveniences for bank customers. The bank has temporarily shut down about 10 percent of its nearly 400 branches.
