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895 cars

Hyundai Motor agreed on Tuesday to part of the demands by the firm's union for the union's participation in Hyundai Motor's management,hollister france, during labor-management collective bargaining sessions for wages this year.

The labor union and management of Hyundai,air jordan pas cher, the nation's largest carmaker, came to an agreement through their collective bargaining sessions on Monday and Tuesday. The agreement holds the company responsible for maintaining its production capacity for various domestic plants as of 2003,franklin marshall, should Hyundai build more plants overseas,hollister. The agreement also set forth that the company cannot close down or reduce the production capacity of domestic plants without the approval of a joint management-labor union committee,.

The settlement also stipulates that without the consent of the union,abercrombie, the company would not be able to proceed with lay-offs or early retirement programs,air jordan. In addition,abercrombie, the joint committee's approval is required before the firm can install new production technologies,louboutin pas cher, including a factory automation system,moncler, or relocate plants,abercrombie france.

The two parties, however, agreed to jettison the union's demand for participation in the firm's board of directors' meetings,.

For the wage increase this year, the union and management agreed on a W97,abercrombie,000 increase in workers' monthly salaries,abercrombie, the payment of a 200 percent performance bonus and a one-time gift equal to their monthly wage in order to "stimulate productivity,abercrombie paris."

Observers said that the acceptance of Hyundai Motor's management for participation in the day-to-day operation was the result of the company's awareness of mounting production losses,louboutin.

The company said that as of Tuesday it failed to produce 104,895 cars, with a total value of W1.38 trillion.

As of Tuesday night,piumini moncler, the union and management were in the final stretch of negotiations over other issues,magasins.com, including the adoption of a five-day workweek and the company's treatment of irregular workers,abercrombie france. (Kim Jong-ho, tellme@chosun.com)Related articles:

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