ID :
203600
Fri, 08/26/2011 - 06:42
Auther :
Shortlink :
https://oananews.org//node/203600
The shortlink copeid
SC First Bank union to stage strike next week
SEOUL, Aug. 26 (Yonhap) -- The labor union at SC First Bank said Friday that it will continue its labor strike to oppose the bank's move to adopt a merit pay system even after its members return to work next week.
Unionized workers at the Korean unit of Standard Chartered Plc plan to resume work on Monday, but will stage a slowdown at workplaces and will hold a rally next Wednesday in Seoul, said Bae Kwang-jin, a spokesman for the union.
Bae said that the labor union plans to continue the labor strike, but has not decided whether to hold rallies every Friday or every other week.
"We are considering staging the walkouts at least for six months," Bae said.
Angered by a management plan to introduce a performance-based pay system, about 2,900 unionized workers at SC First Bank have been on strike since late June, the longest work stoppage 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. Its unionized workers, who account for about half of 6,500 bank employees, are vehemently opposing the move, claiming that it is aimed merely at cutting labor costs and does not jibe with Korean culture.
But the management, led by chief executive Richard Hill, is also determined to introduce the pay system, saying that the bank cannot continue to pay out high salaries without growth.
The game of chicken between labor and management is increasing inconveniences for bank customers. The bank has temporarily shut down about 10 percent of its nearly 400 branches due to the labor strike.
Unionized workers at the Korean unit of Standard Chartered Plc plan to resume work on Monday, but will stage a slowdown at workplaces and will hold a rally next Wednesday in Seoul, said Bae Kwang-jin, a spokesman for the union.
Bae said that the labor union plans to continue the labor strike, but has not decided whether to hold rallies every Friday or every other week.
"We are considering staging the walkouts at least for six months," Bae said.
Angered by a management plan to introduce a performance-based pay system, about 2,900 unionized workers at SC First Bank have been on strike since late June, the longest work stoppage 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. Its unionized workers, who account for about half of 6,500 bank employees, are vehemently opposing the move, claiming that it is aimed merely at cutting labor costs and does not jibe with Korean culture.
But the management, led by chief executive Richard Hill, is also determined to introduce the pay system, saying that the bank cannot continue to pay out high salaries without growth.
The game of chicken between labor and management is increasing inconveniences for bank customers. The bank has temporarily shut down about 10 percent of its nearly 400 branches due to the labor strike.
