Samsung Electronics workers to receive tens of billions in bonus payouts

Samsung Electronics has agreed on a long-term bonus scheme that will see its 78,000 employees receive special payouts worth tens of billions of dollars, according to the Financial Times.

Under the agreement reached between the company’s management and labour unions after prolonged negotiations, the average special bonus per employee is expected to be around $400,000.

The total payout is projected to reach 34 trillion won ($22.6 billion) over a 10-year period, equivalent to about 10.5% of the South Korean tech giant’s operating profit.

Around 40% of the total sum will be distributed equally among employees, while the remainder will be allocated across divisions based on performance, with higher-performing units receiving larger shares.

The new scheme will be in addition to Samsung’s annual performance bonus, typically amounting to about 1.5% of operating profit.