Hyundai workers walked out as James Hardie prepared to close a European line
About 40,000 Hyundai workers struck over pay, retirement and automation guarantees; James Hardie agreed to sell its European fibre gypsum business and plans to wind down its fibre cement line.
Economics & Markets··Evening
Hyundai faces its first full strike in a decade
About 40,000 members of Hyundai Motor's South Korean union joined a one-day full strike after wage talks stalled. Workers from Kia and supplier companies also supported a rally outside Hyundai's Seoul headquarters. The union wants the retirement age raised from 60 and job guarantees against artificial intelligence and automation. Bonuses are another point of disagreement: the union is seeking a payment equal to 800 per cent of monthly base salary, up from 750 per cent. Union spokesman Kim Jin-wook said the sides remained apart on retirement and bonuses, while the company said it remained committed to dialogue.[1]
Partial walkouts disrupted production of 55,200 vehicles
Partial walkouts since late July have already reached the production line. Yonhap News Agency estimates that output of 55,200 vehicles, worth more than 2.3 trillion won or 1.67 billion dollars, has been disrupted. The automation dispute intersects with a published company timetable. Hyundai, which owns Boston Dynamics, plans to deploy humanoid robots at its Georgia plant from 2028. The union's demand for job guarantees remains on the table as that schedule approaches, and the report says the company and workers are still apart over retirement age and bonuses.[1]
James Hardie is selling one business and winding down another
James Hardie is selling its European fibre gypsum and cement-bonded products business to Holcim subsidiary Holcim Westbeteiligungs GmbH for 840 million euros. European fibre cement operations are outside the sale, and the company intends to wind that line down before completion. The transaction is expected to close in the first half of 2027, subject to antitrust approvals and completion of employee consultation. The price can be adjusted for net debt and working capital, and the buyer must pay a 15 million euro termination fee in specified circumstances.[2]
