Samsung Electronics' labor talks break down, raising fears of major strike

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Samsung Electronics Co. and its labor union failed to reach a wage agreement Wednesday, raising concerns over a major strike later this month that could disrupt operations at the world's largest memory chipmaker. The breakdown came after two days of government-led mediation talks that had been viewed as a last-ditch effort to avert the strike scheduled for May 21. Union and management have remained sharply divided over performance-based bonuses tied to the company's earnings related to