ID :
208190
Tue, 09/20/2011 - 08:44
Auther :
Shortlink :
https://oananews.org//node/208190
The shortlink copeid
SC First Bank further reopens temporarily shuttered branches
SEOUL, Sept. 20 (Yonhap) -- SC First Bank, the South Korean unit of Standard Chartered Plc, said Tuesday it has reopened an additional eight branches that had been closed by a labor strike over its new salary system.
Joo Hee-sun, a bank spokeswoman, said that from Monday, the bank resumed operations at eight branches in Seoul and near the capital, raising the number of reopened branches to 13.
"Whether to open further branches will hinge on how a work slowdown or partial strikes staged by the labor union unfold," she said.
SC First Bank temporarily shut down 42 branches, more than 10 percent of its nearly 400 operations, as more than 2,500 unionized workers launched a labor strike in late June in opposition to a proposed performance-based pay scheme. Five branches reopened on Sept. 8.
After a two-month labor strike, unionized workers returned to work on Aug. 29, but have been staging a slowdown and held sporadic strikes.
The bank said that Richard Hill, chief executive of SC First Bank, will speak before lawmakers at a parliamentary audit session slated for Friday to explain the bank's position regarding the labor stoppage.
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 its 6,500 bank employees, vehemently oppose the move, claiming that it is aimed merely at cutting labor costs and does not jibe with Korean culture.
Joo Hee-sun, a bank spokeswoman, said that from Monday, the bank resumed operations at eight branches in Seoul and near the capital, raising the number of reopened branches to 13.
"Whether to open further branches will hinge on how a work slowdown or partial strikes staged by the labor union unfold," she said.
SC First Bank temporarily shut down 42 branches, more than 10 percent of its nearly 400 operations, as more than 2,500 unionized workers launched a labor strike in late June in opposition to a proposed performance-based pay scheme. Five branches reopened on Sept. 8.
After a two-month labor strike, unionized workers returned to work on Aug. 29, but have been staging a slowdown and held sporadic strikes.
The bank said that Richard Hill, chief executive of SC First Bank, will speak before lawmakers at a parliamentary audit session slated for Friday to explain the bank's position regarding the labor stoppage.
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 its 6,500 bank employees, vehemently oppose the move, claiming that it is aimed merely at cutting labor costs and does not jibe with Korean culture.
