SEOUL – Executives at South Korea's Hyundai Motor Group plan to take a voluntary 10 percent cut in wages from this month, the first such move since 2009, Yonhap News Agency reported on Tuesday, citing an unidentified high-ranking group official.
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A spokesman at flagship unit Hyundai Motor Co <005380.KS> said a voluntary wage cut was being introduced for executives, without confirming full details of the move.
The report came the day before Hyundai Motor Co reports third-quarter earnings that are expected to be squeezed by a protracted strike - resolved earlier this month - as well as falling sales at home.
(Reporting by Hyunjoo Jin; Editing by Kenneth Maxwell)