1. Hyundai Motor Executives to Take 10 Percent Pay Cut

    Hyundai Motor Executives to Take 10 Percent Pay Cut

    Hyundai Motor Group said about 1,000 of its executives will take a 10 percent pay cut, the first such move in seven years at South Korea's second-largest conglomerate that shows the harsh impact of market share woes and labour strife at its flagship firm. The pay cuts affect executives at 51 group companies, a spokeswoman at flagship Hyundai Motor Co...

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    1. The pay cut is not that much, but symbolizes the severity of the difficulties Hyundai Motor Group is undergoing.
    2. We are worried about next year's outlook.
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