Taiwan shipping giant Evergreen gives up to 52 months’ pay as year-end bonuses & More Trending News


TAIPEI – Taiwanese shipping giant Evergreen Marine has rewarded workers with huge year-end bonuses price between 10 and 52 months of wage every, after posting bumper 2022 earnings.

Local media retailers reported how a lot of the firm’s junior employees with a month-to-month wage of NT$40,000 (S$1,750) took house a bonus price NT$2 million every final weekend, which is equal to 4 years’ pay.

The 2022 payout is even greater than the 40 months’ bonus that the corporate paid in 2021, which had set a report on the time for the best year-end bonus ever paid by a listed Taiwanese firm.

Thanks to the rebound of worldwide container shipping traces following pandemic lockdowns, as nicely as hovering shipping costs, the corporate reported a web revenue of NT$304.35 billion for the primary three quarters of 2022. The 2022 monetary 12 months earnings are anticipated to be launched in March 2023.

“The company had good earnings and lots of surplus cash. As it is not aggressively expanding its business operations, it gave some of that cash in the form of bonuses to reward employees, which I think is very reasonable,” stated Professor (*52*) Jiunn-rong, an economics skilled from the National Central University in Taiwan.

Evergreen Marine didn’t instantly reply to The Straits Times’ request for remark, although it beforehand informed native reporters that employees had been compensated based mostly on their efficiency.

While its workers celebrated, employees in a few of its dad or mum firm Evergreen Group’s different divisions, significantly the airline enterprise, weren’t too happy as they reportedly acquired a lot smaller bonuses.

The distinction in payout prompted airport floor employees working for Evergreen Airline Services (EGAS) – an Eva Air affiliate – to go on strike over the New Year weekend, which led to minor flight delays affecting 4,000 travellers at Taoyuan Airport in Taipei.

The floor employees had been reportedly given one month’s wage as bonus, whereas different Eva Air employees got bonuses price up to three months’ wages.

On Jan 1 and a couple of, round a 3rd of the corporate’s 300-odd floor crew walked out in protest, in accordance to the Liberty Times newspaper.

The firm known as in non permanent employees to make up for the scarcity, whereas a few of its executives, together with EGAS chairman Chen Yo-yu, had been photographed dealing with baggage and clearing cabins.

Airport floor operations returned to regular on Jan 3, although there are actually issues that employees might go on strike once more through the sometimes busy Chinese New Year week later in January.

This just isn’t the primary time that Eva Air has discovered itself on the centre of controversy over low bonuses. In 2021, greater than 1 / 4 of its floor employees reportedly stop after receiving a bonus of NT$10,000 every.

Taiwan shipping giant Evergreen gives up to 52 months’ pay as year-end bonuses

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Taiwan shipping giant Evergreen gives up to 52 months’ pay as year-end bonuses

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