Unionized workers of Samsung Electronics warn of up to $20.3 bil. loss from planned general strike

Unionized workers of Samsung Electronics on Friday argued the tech giant may lose up to 30 trillion won ($20.3 billion) in profit this year alone should it go ahead with its walkout as planned. Such a warning came amid stalled wage talks, in which the unionized workers earlier demanded a sharp increase in performance-based bonuses that many say may force Samsung Electronics to pay as much as 45 trillion won this year in bonuses if realized. "If we continue a strike for 18 days, the company is expected to suffer at least 20 trillion won to 30 trillion won in losses," Choi Seung-ho, head of the Samsung Electronics unit at the Samsung Group United Union (SGUU), said at a press conference. The union earlier announced plans to stage a general walkout for 18 days from May 21 to June 7. Given that Samsung Electronics is projected by some analysts to post as much as 300 trillion won in operating profit this year, the company could incur losses of about 1 trillion won per day if production disruptions arise from the strike, Choi explained. He said the union has demanded the removal of a cap on bon