Hyundai Motor Co. Ltd. has cut its year-end bonus for South Korean workers, blaming strikes as the reason why the auto maker missed its revised 2006 production target. In a recent open letter to employees, Hyundai management says the year-end bonus paid to workers would be 100% of the amount determined during labor contract negotiations that took place in July. Had Hyundai exceeded its production goal, workers would have received a bonus payout equal to 150% of the contractual amount. ...
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