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Against All Odds: Taiwan shipping companies surpass expectations with generous employee bonuses

Yang Ming Marine Transport awards massive NT$2.3 billion bonuses to employees

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Annesha Barua
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Against All Odds: Taiwan shipping companies surpass expectations with generous employee bonuses
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Taiwan, June 03: Taiwanese shipping companies, despite the global cargo slump, are rewarding their employees with substantial mid-year bonuses.

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Yang Ming Marine Transport, following approval from shareholders, will distribute bonuses worth up to 30 months' salary to its workers on their next payday, totaling NT$2.3 billion (S$101 million). The company had previously granted a year-end bonus of 12 months' salary at the beginning of 2023.





According to Bloomberg, Yang Ming explained via email that the company's regulations stipulate that 1 per cent of the previous year's profit must be allocated as compensation for employees. However, the specific amount given to each staff member is at the discretion of the company.

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In a similar vein, Evergreen Marine, with approval from shareholders, will provide an additional NT$1.9 billion in bonuses to its 3,100 employees, equivalent to approximately 12 months' pay. Analyst estimates suggest that Evergreen's net income is anticipated to decline by 94% this year to NT$18.6 billion, while Yang Ming is projected to experience a 99 per cent profit decrease to NT$2.2 billion.



- With inputs from agencies
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