The amounts being talked about are slightly higher than just regular wages, as they are asking for a bonus pool of 15% of operating profit and removal of caps for the bonuses. For SK Hynix, that recently negotiated the bonus pool to be 10% of their profit, that means they are expected to be paying each worker roughly a $450000 bonus this year, with it being estimated to rise to over $900000 next year.
Which means the bonus alone results in an hourly wage of $240-470/hour.
Would be really interesting to know what those kinds of bonuses do for the job market, where you could be earning ten to twenty times more money doing the same kind of work just because you happen to do it for SK Hynix, or possibly soon, Samsung.
Could this be justified ala CEO pay? CEOs are ostensibly paid such huge sums because of the value they bring to the company. Without the workers, that wouldn’t be possible. And the workers are definitely contributing to the value of the company.
Idk how it is in South Samsung, but at least where I come from, you can’t pay dividends unless reporting profit so there’s an incentive to report profit for established companies making a ton of money. Shareholders like getting paid.
Except pay their workers a fair wage?
The amounts being talked about are slightly higher than just regular wages, as they are asking for a bonus pool of 15% of operating profit and removal of caps for the bonuses. For SK Hynix, that recently negotiated the bonus pool to be 10% of their profit, that means they are expected to be paying each worker roughly a $450000 bonus this year, with it being estimated to rise to over $900000 next year.
Which means the bonus alone results in an hourly wage of $240-470/hour.
Would be really interesting to know what those kinds of bonuses do for the job market, where you could be earning ten to twenty times more money doing the same kind of work just because you happen to do it for SK Hynix, or possibly soon, Samsung.
Could this be justified ala CEO pay? CEOs are ostensibly paid such huge sums because of the value they bring to the company. Without the workers, that wouldn’t be possible. And the workers are definitely contributing to the value of the company.
That seems easily abusable though? Just put all the would be profits into R&D or something.
Idk how it is in South Samsung, but at least where I come from, you can’t pay dividends unless reporting profit so there’s an incentive to report profit for established companies making a ton of money. Shareholders like getting paid.