TECH - Hyundai Announces 25% Wage Hike For Alabama And Georgia Production Team Amid Labour Unrest | Benzinga
In a move to stay competitive and maintain its skilled workforce, Hyundai Motor (OTC:HYMTF) has announced a significant wage increase for its production teams in Alabama and Georgia.
What Happened: The South Korean automaker declared the new wage structure on Sunday, which will impact production team members at its Hyundai Motor Manufacturing Alabama (HMMA) and Hyundai Motor Group Metaplant America (HMGMA) plants in Georgia. Starting from January 2024, the wage strategy will see a 25% rise in hourly wages for U.S. production team members by 2028.
HMMA, operational since 2005, will see a 14% wage boost for its production team at the beginning of 2024, on top of a raise received earlier in 2023. The company attributes this to the team’s consistent high-quality performance, safety, and other internal metrics.
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“We have the best team members in the industry, and we are compensating them accordingly,” stated José Muñoz, President and Global COO of Hyundai Motor Company and President and CEO of Hyundai and Genesis Motor North America.
Hyundai’s ...