Yageo Corp (國巨), the world’s biggest passive component supplier, yesterday said that it offers higher compensation to its local employees than its peers, rejecting an accusation by a lawmaker of being stingy when rewarding workers.
“Last year, employees with managerial jobs at the Kaohsiung factory earned more than NT$1 million [US$32,357] annually on average, while production line workers also enjoyed wages that are higher than the minimum wage,” Yageo said in a statement.
More than 90 percent of the factory’s employees are production line workers, given that the passive component sector is a more labor-intensive business than other electronics sectors.
Yageo produces niche products, primarily at the factory in Kaohsiung, as well as standard products at its factories in China.
The company’s remarks came after Chinese Nationalist Party (KMT) Legislator Tseng Ming-chung (曾銘宗) earlier yesterday accused Yageo, Tai Tong Food & Beverage Group (TTFB, 瓦城泰統集團) and Poya International Co (寶雅) of paying lower salaries, even though their earnings per share surpassed NT$10 last year.
Yageo employees each received NT$900,000 in compensation and perks last year, while each board director is to receive NT$114 million in compensation, Tseng said, citing a financial report submitted to the Taiwan Stock Exchange.
Yageo’s nine directors, including chairman Pierre Chen (陳泰銘) and CEO Dora Chang (張綺雯), would receive a total of NT$1.03 billion in compensation, a more than fivefold increase from NT$195.39 million last year, company data showed.
Yageo’s net profit last year totaled NT$33.11 billion, compared with NT$8.57 billion in 2017, with earnings per share surging from NT$13.05 to NT$80.3.
TTFB operates six restaurant chains in Taiwan and China, while Poya operates 204 outlets that sell cosmetics, lingerie and stationery.
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