Kia Motors Corp. and its labor union reach a tentative labor agreement on a new wage and working-conditions package that includes changing the production schedule from two 10-hour shifts to two 8-hour shifts. Kia also agrees to extend the mandatory retirement age from 58 to 59. “The union has tentatively accepted our offer of a 5.6% increase in basic salary, 3-months’ pay as a performance bonus and a one-off incentive bonus of 3 million won ($2,754),” a Kia spokesman tells Ward’s. “The ...

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