Shipping company Evergreen to give employees another bonus worth 10 to 11 months' salary

Imagine getting bonus twice a year.

Yen Zhi Yi | March 15, 2023, 11:31 AM

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Employees of Taiwan's largest shipping company Evergreen Marine are reportedly getting mid-year bonuses equivalent to 10 to 11 months of salary, according to the Central News Agency (CNA).

In January 2023, the same company already rewarded employees with massive bonuses of up to 52 months.

The shipping giant is expected to spend NT$1.918 billion (S$84 million) on the mid-year bonuses, according to an announcement by the company during their board meeting on Mar. 14.

Evergreen Marine has approximately 3,100 employees and their average monthly salary is NT$60,000 (S$2,633), CNA reported.

With the earlier bonus in January and the upcoming mid-year bonus, the company’s staff can expect to receive a total bonus of up to 60 months’ salary.

Positive outlook

A financial report cited by CNA said that in 2022, Evergreen Marine’s revenue was NT$627.284 billion (S$27.53 billion), which was an increase of 28.17 per cent from the previous year.

It was apparently the company’s best performing year in its history, according to United Daily News (UDN).

Its revenue in the first two months of 2023 was said to be NT$44.922 billion (S$2 billion), which was a fall of 59.94 per cent.

The company’s president Hsieh Huey-chuan cited the pandemic and the Lunar New Year holidays as reasons for the decline in cargo volumes, but said that the market is expected to pick up again in the second quarter of 2023.

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Top image via Wikipedia