Taiwanese shipping company Evergreen Marine Corp was previously in the news for giving their employees up to 52 months’ salary worth of bonuses last year.
This year, the company is planning to reward their employees with a mid-year bonus of up to 11 months’ worth of salary, spending NT$1.918 billion (or SGD$84 million) on the bonuses.
This comes in the wake of Evergreen Marine raking in NT$627.284 billion in revenue last year, an increase of 28.17% from the previous year.
The company saw a year-on-year increase of 39.82% in revenue, according to the shipping company’s financial report that was released on Tuesday.
The company’s revenue and profits hit a record high, with the company’s after-tax earnings per share (EPS) amounting to NT$87.07.
Evergreen marine announced in their financial report release that they will be giving their employees a mid-year bonus of between 10-11 months worth of salary as a reward for their contributions to the company.
The company currently has about 3,100 employees on an average monthly salary of NT$60,000 (SGD $2644.72). Which means that for those ezrning NT$60,000 per month, they would be receiving around NT$3.66 million (SGD$160,600) in total, if they get the bonus pay of 61 months.
In the first two months of this year, the company’s consolidated revenue stood at NT44.922 billion, which is a decline of about 59.94 percent from the previous year because of the Lunar New Year holiday and the impact of the pandemic on production lines.
Cargo volumes were decreased and freight rates were on a downward spiral, according to the president of the company Hsieh Huey-chuan.
Hsieh said that looking to the future market prospects, the market could suffer in the off-season first quarter of this year. However, the market is expected to improve in the second quarter of the year.