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Hyundai Motor, Hyundai Heavy unions demand adherence to standard wage rules

ULSAN, April 22 (Yonhap) -- Union workers at South Korea's largest car manufacturer and shipbuilder are moving to demand full adherence to standard wage rules that could lead to standoffs with management and strikes, industry sources said Tuesday. Sources said union leaders at Hyundai Motor Co. and Hyundai Heavy Industries Co. are demanding that management expand the boundaries of what makes up standard wages to conform to a landmark Supreme Court ruling made on Dec. 18.

One more crew member detained over sunken ferry

JINDO, South Korea, April 22 (Yonhap) -- One more sailor of the sunken ferry Sewol was put under arrest Tuesday, bringing to five the total number of the ill-fated vessel's staffers charged with not fulfilling their duty to safely evacuate passengers, officials said. A joint investigation team of police and prosecutors alleged that a 58-year-old first mate surnamed Sohn, who attempted to kill himself a day earlier amid the ongoing investigation, had neglected his duty.

Hyundai Motor, Hyundai Heavy unions demand adherence to standard wage rules

ULSAN, April 22 (Yonhap) -- Union workers at South Korea's largest car manufacturer and shipbuilder are moving to demand full adherence to standard wage rules that could lead to standoffs with management and strikes, industry sources said Tuesday. Sources said union leaders at Hyundai Motor Co. and Hyundai Heavy Industries Co. are demanding that management expand the boundaries of what makes up standard wages to conform to a landmark Supreme Court ruling made on Dec. 18.

One more crew member detained over sunken ferry

JINDO, South Korea, April 22 (Yonhap) -- One more sailor of the sunken ferry Sewol was put under arrest Tuesday, bringing to five the total number of the ill-fated vessel's staffers charged with not fulfilling their duty to safely evacuate passengers, officials said. A joint investigation team of police and prosecutors alleged that a 58-year-old first mate surnamed Sohn, who attempted to kill himself a day earlier amid the ongoing investigation, had neglected his duty.

KT given breather with higher-than-expected number of retirees

By Kang Yoon-seung SEOUL, April 22 (Yonhap) -- South Korea's top fixed-line operator, KT Corp., is expected to get some relief from financial pressure as a significant number of workers applied for its retirement program, analysts said Tuesday, although the effect of a streamlined workforce won't be long-lived. KT, also the country's No. 2 mobile carrier by market share, said 8,320 employees applied for its voluntary retirement program offered from earlier this month as of Monday. The number is much higher than the anticipated 6,000.

With terms far apart, no solution in sight for China's shoe factory strike in its 2nd week

BEIJING, China - Workers on strike at a Chinese factory owned by the world's largest maker of athletic shoes have rejected management's latest offer in an ongoing labour dispute that is crimping production for brands such as Nike and Adidas. The on-off work stoppage at Yue Yuen Industrial (Holdings) Ltd.'s massive factory complex in southern China, which employs more than 40,000 workers, has stretched into the second week as both sides have failed to reach an agreement.

Novartis, GSK, Lilly sign multibillion-dollar deals to trade business units

GENEVA - Swiss pharmaceutical giant Novartis AG announced a series of multibillion-dollar deals Tuesday with other major pharmaceutical companies that it said would reduce sales but boost profitability, while affecting some 15,000 of its employees globally. The Basel, Switzerland-based company said it has agreed to buy GlaxoSmithKline plc's cancer-drug business for $14.5 billion, plus up to $1.5 billion more if certain milestones are met, and to divest most of its vaccines business to GSK for $7.1 billion, plus royalties.

Canadian Press NewsAlert: Novartis announces multibillion-dollar deals with GSK, Lilly affecting 15K employees

GENEVA - Swiss drugmaker Novartis announces multibillion-dollar deals with GSK, Lilly affecting 15,000 employees globally. More to come.

Abe eager to promote merit-based pay system in Japan

Japanese Prime Minister Shinzo Abe on Tuesday instructed a government panel to come up with a new payment system under which some workers are awarded not for how long they work but what they achieve. "We need to diversify regulations on limiting regular work hours" of private sector employees, Abe said during a joint meeting of the Council on Economic and Fiscal Policy and the Industrial Competitiveness Council.

Wage cuts make Spain's recovery a long, painful path

By Paul Day MADRID (Reuters) - Carmen Collado has laundered hospital linen in Madrid for 11 years. Now, almost half her colleagues have been fired and the 61-year-old grandmother is cleaning the same bed sheets, nurses' scrubs and towels as before for half the pay. Collado is still working in a country where more than one in four out of a 22.7 million workforce have no job. But her employment does her, and Spain, few favors in the long term.
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