A Micron Union in Taiwan Voted 99% to Authorize a Strike. Should You Sell the Stock?
Workers at Micron Technology (NASDAQ:MU) in Taiwan have come a step closer to a strike. On Oct. 7, the union at the memory maker’s Taoyuan site said 1,994 members voted to authorize a strike over how Micron splits its profits. This was 99% of the ballots cast. Just 14 voted against.
No strike date has been set. The union asked members to take Monday, Oct. 19, off for a rally in Taipei, which it said wouldn’t be a strike. But the union’s chair has said a surprise walkout, announced to members by text on short notice, is on the table.
When I covered the dispute in early September, I thought a deal was the likelier ending. As of this writing, the growth stock trades near $879, off about 28% from its record close of $1,213.56 in late June.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.