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.
Huawei Technologies Co (華為) largely omitted mention of its controversial Mate 60 smartphone series at a grand showcase of its new consumer products yesterday. The Shenzhen-based company would increase smartphone production in response to demand, said consumer division chief Richard Yu (余承東), without naming the handset triggering that surge. The Mate 60 Pro earned international notoriety with its advanced made-in-China processor last month, causing concern in Washington about Huawei’s progress toward developing in-house chipmaking capabilities despite US trade curbs. Huawei’s new phones have fired up the company’s sales and were among the top sellers in China in the week before Apple Inc’s
SLUMP: The electronics, machinery and traditional industries posted the largest decline in the past year; overall, sectors showed gains over the previous month Taiwan’s industrial production index decreased 10.53 percent year-on-year to 91.38 last month, falling for a 15th consecutive month on an annual basis, as weak global economic growth continued to weigh on end-market demand and investment momentum, the Ministry of Economic Affairs said on Saturday. The industrial production index gauges output in Taiwan’s four main industries: manufacturing, electricity and gas supply, water supply, and mining and quarrying. Last month’s decline was the smallest contraction since March when the index dropped 16.03 percent from a year earlier. On a monthly basis, the index rose 7.28 percent, marking a second straight month of improvement,
US-based tech giant Google said yesterday that its efforts to build four underseas cables to connect Taiwan with the world had created more than 64,000 jobs and generated about US$26 billion in GDP for Taiwan as of 2021. The US company has transformed Taiwan into a strategic cloud infrastructure hub in the world. The four undersea cables are part of the company’s investments in cloud infrastructure in Taiwan, and on the back of the undersea cables, a data center and a Google Cloud Region, which is a geographic area in which Google provides infrastructure and services for deploying applications, Google said in
Micron Technology Inc on Wednesday predicted a steeper loss than anticipated in the current quarter, indicating that an industry slump is still weighing on the largest US maker of memory chips. The company projected a fiscal first-quarter loss of as much as US$1.14 a share, excluding some items. Analysts had estimated a US$0.96 loss. On the bright side, revenue is expected to start recovering in the period. Micron predicted sales of US$4.2 billion to US$4.6 billion, compared with an estimate of US$4.21 billion. For Micron and competitors Samsung Electronics Co and SK Hynix Inc, this year has been brutal. Customers in their
RSS