Samsung Electronics union members voted to ratify a compensation deal on Wednesday, with about 74% of the roughly 62,600 participating workers backing the agreement, averting an 18-day strike at the world's largest memory chipmaker. Under the deal, Samsung will allocate 10.5% of its semiconductor division's annual operating profit as stock-based bonuses, plus 1.5% in cash, along with a 6.2% average wage increase, over 10 years contingent on hitting profitability targets. Chip division workers stand to receive an average bonus of around 513 million won (~$340,000), with memory unit employees potentially eligible for payouts over $400,000, while staff in Samsung's consumer electronics division are expected to receive bonuses in the low thousands of dollars. submitted by /u/Substantial_Novel590 [link] [comments]