Hyundai will increase wages for workers in the US by 25% – Kommersant

South Korean automaker Hyundai Motor said it will increase wages by 25% for workers at its American factories. The increase will occur in stages until 2028, the first increase will occur on January 1, 2024 – by 14%. Earlier, similar statements about increasing wages for workers in the United States were made by other Asian manufacturers – Honda and Toyota.

Foreign auto companies operating in the United States announced wage increases at their American factories after the United States Auto Workers (UAW) union achieved from the “Big Three” US automakers – General Motors, Ford, Chrysler (part of the Stellantis alliance) – wage increases. The strike by workers at General Motors, Ford and Stellantis plants has become the largest in the United States in several decades. It began in mid-September and gradually spread to several dozen factories, to her have joined and Canadian workers. In total, almost 50 thousand workers took part in the strike. Ford previously reportedthat losses from the strike amounted to $1.3 billion, GM announced losses of $800 million, Stellantis – €3 billion.

Finally, in October, General Motors, Ford, and Chrysler agreed in turn to increase worker wages by 25–30% over several years, improve conditions for pension contributions and health insurance, etc.

Evgeny Khvostik