(Bloomberg) -- It was two months into a strike at
Korea Exchange Bank's credit card unit, and some 200 employees
had been camped out for almost a week in tents and sleeping bags
in the basement parking lot of the company's Seoul headquarters.
At exactly 3:20 a.m. on Feb. 27, 2004, the strikers' mobile
phones tweeted simultaneously, indicating the arrival of a text
message, recalls Jang Wha Sik, a union leader. Half asleep, the
workers rubbed their eyes and grabbed their phones. Then many
burst into tears. ``The company regrets to inform you that you
are dismissed,'' the message from the card unit of Korea
Exchange Bank, owned by Dallas-based Lone Star Funds, read. The
firing was effective the following day.
Read more at Bloomberg Exclusive News
Korea Exchange Bank's credit card unit, and some 200 employees
had been camped out for almost a week in tents and sleeping bags
in the basement parking lot of the company's Seoul headquarters.
At exactly 3:20 a.m. on Feb. 27, 2004, the strikers' mobile
phones tweeted simultaneously, indicating the arrival of a text
message, recalls Jang Wha Sik, a union leader. Half asleep, the
workers rubbed their eyes and grabbed their phones. Then many
burst into tears. ``The company regrets to inform you that you
are dismissed,'' the message from the card unit of Korea
Exchange Bank, owned by Dallas-based Lone Star Funds, read. The
firing was effective the following day.
Read more at Bloomberg Exclusive News
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