HONG KONG ― LG Display Co., the world’s second-largest display maker, said Thursday that workers at a factory it owns in China have ended a strike and will return to work soon.
On Monday, some thousands of workers went on strike at LG Display’s factory in the eastern Chinese city of Nanjing, asking for an increase in their year-end compensation.
The company’s Beijing office said the labor union had decided to end the work stoppage in return for the company’s offer to double the year-end bonus for Chinese workers to two months’ salary.
The average monthly salary for Chinese factory workers at LG Display is reported to be about 1,500 yuan ($237).
The company refuted the workers’ earlier claim that discrimination exists in the company’s compensation policy.
“The global LCD panel industry in 2011 has faced a severe environment,” a Korean official at the Beijing office said, on condition of anonymity. “It is not only affecting LG Display, but also Samsung Electronics Co. and other big panel makers.
”All the panel makers are carried out personnel adjustments, and many executives are also seeing their wages cut. There is absolutely no discriminatory treatment.“
LG Display has been suffering from a supply glut in the industry, weighing down display panel prices.
The strike took place as factories in China have experienced a rash of strike actions and collective labor protests over wage increases and working conditions.
(Yonhap News)
