Samsung Chip Workers To Get $340,000 Average Bonus In AI Boom

Samsung is reportedly set to pay chip-division workers an average bonus of about $340,000 after reaching a tentative deal with its union, according to Bloomberg (paywalled). The deal ended a standoff that "could have cost the economy as much as 1 trillion won ($658 million) daily, with losses potentially multiplying to 100 trillion won ($68 billion) if in-progress semiconductor wafers were rendered unusable," reports Quartz. From the report: The agreement, subject to a union ratification vote running May 22 through May 27, calls for Samsung to direct 10.5% of operating profit into stock bonuses along with a separate 1.5% cash component, according to Bloomberg. The program runs for 10 years, contingent on the company meeting profit thresholds. One-third of the stock award can be liquidated right away, with the rest parceled out in installments across the next two years, Bloomberg reported. The first payout is expected in early 2027. Not all workers will fare equally. As an illustration, Reuters cited a union source estimating that someone in the memory chip unit earning an 80-million-won base salary could take home roughly 626 million won in total bonuses this year. By comparison, workers at SK Hynix stand to collect upward of 700 million won should their employer post annual profit of 250 trillion won, Reuters calculated. Unlike at Samsung, SK Hynix employees are not limited to stock payouts and may instead opt for cash, Reuters reported.