Taiwan’s economy was sluggish last year, but some big conglomerates are still planning to give year-end bonuses to their employees, market sources said on Saturday.
The sources said that among these business groups, Formosa Plastics Group (FPG, 台塑集團) is likely to give bonuses equal to at least four months of salary, even though its bottom line has been hurt by plunging international crude oil prices.
FPG and other business heavyweights have laid a sound foundation after years of development and have been able to fend off the headwinds of a global economic slowdown, the sources said.
This is a sharp contrast with many of the nation’s small and medium-sized companies — some of which have had to ask employees to go on unpaid leave.
According to government data, there were 4,377 employees on unpaid leave as of the middle of last month, down from 5,437 recorded at the end of November.
FPG said that, although the group has not finalized its year-end bonus plans, it is likely to follow precedent. The group’s employees were given bonuses equivalent to between four and four-and-a-half months’ salary last year.
Meanwhile, textile maker Far Eastern New Century Corp (遠東新世紀) said that it has yet to make a decision over year-end bonuses, but it expects its employees to receive bonuses equivalent to at least two months’ wages.
Although China Steel Corp (中鋼), the largest steel maker in Taiwan, has been hurt by a supply glut amid weakening global demand, the company said that it would issue year-end bonuses equal to no less than one month’s salary.
China Airlines Ltd (中華航空), the biggest international carrier nation’s, said it would meet with its labor union to discuss year-end bonuses, but the amount is expected to be at least one month’s salary plus additional allowances.
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