OCTOBER 20248SAMSUNG GIVES WORKERS INR 5,000 INCENTIVE UNDER NEWEST MEMORANDUMRECUPERATING TOURISM SECTOR ADDING TO GROWTH OF TRAVEL ACCESSORIES MARKEThas committed to implementing various measures designed to enhance the working environment and welfare of its employees. Samsung has also agreed to improve transportation facilities by expanding the operation of air-conditioned buses from the current five routes to cover all 108 routes by next year. Additionally, the company plans to increase the frequency of family invitation events from four to six times a year, where participating families will receive a gift valued at 2,000.In a compassionate move, Samsung will provide immediate assistance of 1 lakh to the family of any employee who unfortunately passes away while in service. This initiative aims to help families manage their immediate needs during such difficult times.Moreover, the agreement outlines several enhancements to the workplace, including the opening of a new medical room in the compressor building, diversifying the cafeteria menu, increasing meal allowances, upgrading break rooms and restrooms, replacing old lockers, and installing canopies between buildings. The company has also pledged to allow employees to take more vacation days and will offer a 2,000 gift card to workers upon the birth of a child. According to a report by the United Nations World Tourism Organization published in May 2023, international tourist arrivals surged to 80 percent of pre-pandemic levels in the first quarter of TOP STORIES2023, with around 235 million travelers recorded. This marked more than a twofold increase compared to the same period in 2022. The tourism sector demonstrated impressive resilience, as revised data indicated that over 960 million international tourists traveled abroad in 2022, recovering two-thirds (66 percent) of pre-pandemic levels. One noteworthy innovation is the development of accessories made from upcycled aircraft interiors, which provide a second life to materials that would otherwise be discarded. For instance, in November 2023, Emirates, a prominent UAE-based airline, launched a unique capsule collection of luggage, bags, and accessories crafted from repurposed materials sourced from decommissioned aircraft, including the iconic A380 and 777 models.Overall, the travel accessories market is poised for robust growth driven by an increasing appetite for travel and innovative product developments. As consumers continue to prioritize convenience, sustainability, and personalization, the market will undoubtedly evolve to meet their demands, making travel accessories an integral part of the overall travel experience. On Monday, Samsung India announced it had signed a Memorandum of Agreement (MoA) with a section of its workers to address several demands amid an ongoing strike that began on September 9, 2024. This agreement marks a significant step toward resolving the dispute, as both parties aim to collaborate in "mitigating the difficulties faced by workmen." Under the MoA, Samsung
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