GM Korea Employees Destroy CEO’s Office Over Bonus Cuts

Tensions have been running high at GM Korea for months and they apparently boiled over yesterday after the company announced there wouldn’t be any bonuses.

Bloomberg reports several employees were enraged by the news and forced their way into the company’s executive offices. Video from the event shows a handful of people entering the office of GM Korea CEO Kaher Kazem and throwing chairs, knocking over plants and removing office furniture. The damage doesn’t appear to be too extensive but at least one chair was destroyed and it appears that Kazem’s computer was smashed.

GM Korea described the events as a “violent incident” that “resulted in significant damage to company property.” The automaker has reported the incident to police and has promised to take action against the employees involved.

While the decision not to offer bonuses might have sparked the latest incident, there has been a string of bad news coming out of GM Korea. Last year, rumors were flying that GM could pull the plug on Korean operations and in February the automaker announced a restructuring plan which would see the closure of its Gunsan plant by the end of May. At the time, GM said the Gunsan plant has only been running at around 20 percent capacity over the past three years and this made “continued operations unsustainable.”

GM Korea has been losing money for years and the company has proposed a $2.8 billion investment package and a $2.7 billion debt-for-equity swap to right the ship. However, the unit has also threatened to declare bankruptcy if the union doesn’t agree to cuts and the restructuring plan.

Earlier this year, GM International president Barry Engle said “The performance of our operations in South Korea needs to be urgently addressed by GM Korea and its key stakeholders.” He went on to say the company is at a “critical juncture” and discussions need to make significant progress.

  • TrevP

    Haha.

  • Nordschleife

    So now only should not have a bonus, you shouldn’t have a job.

    • TV Monitor

      So not only should they not have a bonus, they shouldn’t have a job.

      Doesn’t work like that in Korea, where you need a prison sentence of longer than 6 months to be fired. Most of those labor union members will get suspended sentence and return to job at GM Korea.

  • Jay

    Duh masses.

    • Perry F. Bruns

      But damn if it isn’t fun to watch.

  • Auf Wiedersehen

    Like ants on a dead roach…

    At least they all got the matching jacket and red bandana memo.

    You can tell they’re not American auto workers. They’d have picked it all up can carried it out. Not taken 5 guys to PUSH it out…. Hahahaha!

  • thunder bolt

    The Korean are mostly nationalist and they buy mostly Korean products especially cars. GM should learn about ethnicity before put down a 2.8B investment.

    • Chung

      Nationalist? I don’t think so. Americans are though.

      • Moveon Libtards

        You are an idiot. The U.S. has the most open car market in the world, with many buying Japanese and even some crappy Korean cars too. In Korea ppl used to smash non-Korean cars on the street and shame owners. 50% tax on non-Korean cars was normal. Koreas monoethnic nationalism has killed it. Oh, and its temper tantrums.

    • TV Monitor

      thunder bolt

      The Korean are mostly nationalist and they buy mostly Korean products especially cars.

      Absolutely not. The no. 1 auto brand in Korea in terms of sales unit is Hyundai/Kia, no. 2 is Mercedes Benz and no. 3 is BMW. No. 4 is Chevrolet but is going down fast.

      The only shining point for GM in Korea is Cadillac, whose sales are growing at 40% a year.

      So what’s really happening is that Korea is a high-end market where luxury sedans/SUVs rule(Hyundai and Kia are luxury vehicle sellers in Korea), and GM’s Chevrolet couldn’t keep up with changing market trend and is losing out.

      • Moveon Libtards

        Thats only because they dropped their taxes. They are still overly emotional people that victomhood at every turn. The bet wrong now they are suffering the consequences.

    • No they aren’t, Kia/Hyundai/Samsung product is selling because of their competitive price. GM Korea was a Daewoo, which is a Korean car and the fact that many of the product were designed, tested, used parts and assembled in Korea.

  • Six_Tymes

    mob mentality never goes away, now they are all unemployed

  • Mind Synthetic

    aww korean roaches, gm should close korean design facility and plants.

    • Perry F. Bruns

      Where would Chevy get its Sonic and Spark hatchbacks?

      • Mind Synthetic

        they are being axed after this year anyways who cares

        edit: spark is discontinued already

        • TV Monitor

          Mind Synthetic

          From The Motor Trend

          2019 CHEVROLET CRUZE, CHEVY SPARK GET MIDCYCLE REFRESH

          2019 Chevrolet Spark
          The Subcompact 2019 Chevrolet Spark’s face-lift is a bit more obvious compared to the Cruze, as the grille and lower front valance have been completely redesigned with a chrome frame that connects both intake openings. The headlights have also been upgraded with available projector-style lamps, while the available LED daytime running lights have been moved down. In back, the the Spark gets dual-element taillights to bring it in line with the rest of the refreshed Chevy car lineup.

          The Sonic is dead, The Spark is not.

      • Moveon Libtards

        Dont need them. Slow sellers anyway.

  • LWOAP

    There are ways to vent your anger and frustration when things don’t go your way. This is not one of them. I assume they’ve been fired because of this.

  • Maricaibo

    I lived in S. Korea. You mess with their lives they’re gonna mess with you. Tough people. And it sounds like GM just wasn’t paying…attention.

    • Moveon Libtards

      Um, they the Koreans played tough and lost. Took the risk against a big company. Should have not made so many demands when foreigners were giving them their livelyhood.

      The Korean victim mentality is getting old. Time to man up and grow up if they want to play in the real world.

  • Perry F. Bruns

    GM has employees on other planets? Our whole population is about 7.5 billion. 😉

  • brn

    The repeated lack of maturity degrades my, once positive, view of South Korean people.

    • Moveon Libtards

      This is why they dont advance and many leave the country.

  • The dumb down version is that GM Korea is under pressure from the labor union to not closed their under utilized plants. But GM insist that restructurization is imminent and they try to ask Korean government if they can intervene or give exception like tax break, which Korean government unwilling too since that meant they had to give other company similar privilege.

  • Moveon Libtards

    Typical overly emotional Koreans. And you wonder why their country is a wreck.

    • Moveon Libtards

      I thought this site said GM would cave and hand out more money to the Koreans? Nope, they pulled out most of this failed market.

      • Moveon Libtards

        Korean uni onmo nkeys failed.

    • Moveon Libtards

      Did one of they guys pick up the jacket off the floor and shake it clean? Lolololol

  • Six Thousand Times

    Love the passion, not necessarily sure that was the way to go, though.

    • SteersUright

      Amen. The little guy eats sh*t in all parts of the world while executives make out like bandits. Poor strategy, but props on the motivation to stand up for themselves.

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