Taiwan shipping company Evergreen Marine hands out 20 months' year-end bonus to staff

Taiwan's largest shipping company, Evergreen Marine, has announced a year-end bonus for its staff that comes up to an average of 20 months, Taiwanese media CNA and SETN reported.

This means that employees who have performed well in the company could have received year-end bonuses of more than 120 months over the past four years.

Taiwan News further reported that Evergreen Marine's employees will also receive an additional three-month bonus.

Annual net profit for first three quarters of 2024 increased by over 200 per cent

Evergreen Marine reported a consolidated revenue of NT$347.756 billion (S$14.48 billion) for the first three quarters of 2024, marking an annual increase of 67.98 per cent from 2023.

As for its net profit after taxes for the same period, Evergreen Marine reported a figure of NT$108.754 (S$4.5 billion), marking an increase of 239.4 per cent from 2023.

Taiwan News reported that Evergreen Marine's profitability from 2024 is set to rise, with freight rates being pushed up by the Red Sea crisis when the Yemen-based Houthi militant group started launching attacks against commercial shipping in protest over the Israel-Gaza war.

In response to media queries, Evergreen Marine replied that year-end bonuses have always been based on the company's operating performance and the personal performance of its employees.

Top photo via Wikipedia