This Firm Is Paying Bonuses Price 4 Years’ Wage To Its Workers

Taiwan’s Evergreen Marine Corp. is celebrating a standout yr by awarding stellar bonuses to a few of its workers.

The Taipei-based transport firm is handing out year-end bonuses equal to 50 months’ wage, or greater than 4 years’ pay, on common, in line with an individual conversant in the matter. The dimensions of the windfall varies relying on an worker’s job grade and performance and the outsized bonuses are solely relevant for employees with Taiwan-based contracts, the particular person stated, asking to not be recognized as a result of the main points are non-public.

12 months-end bonuses have at all times been based mostly on the corporate’s efficiency for the yr and the person efficiency of staff, Evergreen Marine stated in an announcement Friday, declining to elaborate.

Evergreen Marine’s largesse is the results of an unprecedented industry-wide transport increase over the previous two years, pushed by a pandemic-fueled surge in demand for shopper items and freight charges. The corporate’s 2022 income is anticipated to soar to a report NT$634.6 billion ($20.7 billion), greater than triple 2020 gross sales.

Evergreen Marine, which attracted headlines for all of the fallacious causes in early 2021 when a ship it operated received caught within the Suez Canal, roiling provide chains, doled out bonuses as much as 52 months wage, Taipei’s Financial Every day Information reported final week. Some staff acquired funds of greater than $65,000 on Dec. 30, the information outlet stated, with out disclosing the place it received the data.

Not all Evergreen Marine’s workers have been so fortunate although. Its Shanghai-based staff have complained of unfair remedy after they solely received bonuses of between 5 and eight instances their month-to-month salaries, Caixin reported, citing native staff.

The current pay day could also be nearly as good because it will get for the foreseeable future, nonetheless. Transport firms have warned that quickly weakening world progress mixed with falling freight charges are prone to damage profitability this yr. Evergreen Marine’s inventory tumbled 54% final yr after a surprising 250% acquire in 2021.

(Aside from the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)