Hyundai Motor executives to take voluntary 10 percent cut in wages

Reuters
The logo of Hyundai is pictured at at the 37th Bangkok International Motor Show in Bangkok, Thailand, March 22, 2016. REUTERS/Chaiwat Subprasom/File Photo

SEOUL (Reuters) - 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.

A spokesman at flagship unit Hyundai Motor Co 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)