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00:03Samsung Electronics and its labor union agreed to resume talks on Tuesday
00:07as both sides attempt to avoid what could become the company's largest strike, according to Reuters.
00:13About 47,000 workers plan to begin an 18-day strike on Thursday
00:17after government-mediated negotiations over pay and bonuses collapsed last week.
00:22The union wants Samsung to remove a 50% bonus cap
00:26and allocate 15% of annual operating profit to a worker bonus pool.
00:32Samsung proposed assigning 9% to 10% of annual operating profit to bonuses
00:37if operating profit exceeds $200 trillion won, while keeping the existing cap.
00:44A South Korean court partially granted Samsung's request to block illegal labor actions during the strike.
00:49South Korean officials warned the strike could hurt economic growth, exports, and financial markets.
00:55Samsung executives also reportedly warned customers, including NVIDIA,
01:00could suspend shipments during a strike over quality concerns.
01:03For all things money, visit Benzinga.com.
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