The Detroit ews is reporting that Hyundai has reached a tentative agreement with its labor union to end a strike that''s lasted the better part of a month. The agreement calls for a 5.1-percent pay increase, which is well below the 9.1-percent increase workers went on strike to secure. The agreement still has to be voted on by the union membership on Friday before it becomes binding.
Hyundai''s labor union has gone on strike every year except one since it was formed back in 1987, according to The Detroit ews. This one cost Hyundai $1.33 billion and 91,647 vehicles of lost production.
[Source: The Detroit ews]
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