The Financial Supervisory Commission (FSC) yesterday said it plans by June next year to disclose the names of locally listed companies that pay their employees less than average wages in an effort to combat low-paying jobs.
The commission’s move came after the Executive Yuan last week unveiled a plan to raise the minimum wage and increase the income of low-paid workers.
Companies that do not increase their employees’ salaries to match the growth in their net profits in the prior year would be put on the list as well, China Television Co (中視) quoted FSC Chairman Wellington Koo (顧立雄) as saying.
“Based on the commission’s plan, we are to disclose the names of companies that pay employees less than the industry average by June next year,” Koo said during a question-and-answer session at the Legislative Yuan yesterday.
Average wages would vary by industry, he said.
The list would also include companies that allocate less than NT$500,000 per year for wages, he added.
Local workers are paid less than expected, as enterprises have distributed fewer profits to workers over the past few years, Chinese Nationalist Party (KMT) Legislator William Tseng (曾銘宗), a former FSC chairman, said at the legislative session.
KEY INDICATOR
Outlays for employee salaries and benefits accounted for 43.8 percent of the nation’s GDP in 2016, down from 50.9 percent in 1991, Tseng said, citing Directorate-General of Budget, Accounting and Statistics data.
Koo said the outlay for workers’ wages and benefits would be considered a key indicator when reviewing a company’s corporate governance.
The commission next month plans to release a list of half the nation’s listed companies that offer the highest salaries, he said.
About 900 companies have planned payroll increases, of which 535 plan to increase salaries by more than 3 percent year-on-year, Koo said, citing a commission survey.
Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Monday introduced the company’s latest supercomputer platform, featuring six new chips made by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), saying that it is now “in full production.” “If Vera Rubin is going to be in time for this year, it must be in production by now, and so, today I can tell you that Vera Rubin is in full production,” Huang said during his keynote speech at CES in Las Vegas. The rollout of six concurrent chips for Vera Rubin — the company’s next-generation artificial intelligence (AI) computing platform — marks a strategic
Enhanced tax credits that have helped reduce the cost of health insurance for the vast majority of US Affordable Care Act enrollees expired on Jan.1, cementing higher health costs for millions of Americans at the start of the new year. Democrats forced a 43-day US government shutdown over the issue. Moderate Republicans called for a solution to save their political aspirations this year. US President Donald Trump floated a way out, only to back off after conservative backlash. In the end, no one’s efforts were enough to save the subsidies before their expiration date. A US House of Representatives vote
REVENUE PERFORMANCE: Cloud and network products, and electronic components saw strong increases, while smart consumer electronics and computing products fell Hon Hai Precision Industry Co (鴻海精密) yesterday posted 26.51 percent quarterly growth in revenue for last quarter to NT$2.6 trillion (US$82.44 billion), the strongest on record for the period and above expectations, but the company forecast a slight revenue dip this quarter due to seasonal factors. On an annual basis, revenue last quarter grew 22.07 percent, the company said. Analysts on average estimated about NT$2.4 trillion increase. Hon Hai, which assembles servers for Nvidia Corp and iPhones for Apple Inc, is expanding its capacity in the US, adding artificial intelligence (AI) server production in Wisconsin and Texas, where it operates established campuses. This
US President Donald Trump on Friday blocked US photonics firm HieFo Corp’s US$3 million acquisition of assets in New Jersey-based aerospace and defense specialist Emcore Corp, citing national security and China-related concerns. In an order released by the White House, Trump said HieFo was “controlled by a citizen of the People’s Republic of China” and that its 2024 acquisition of Emcore’s businesses led the US president to believe that it might “take action that threatens to impair the national security of the United States.” The order did not name the person or detail Trump’s concerns. “The Transaction is hereby prohibited,”
RSS