Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, announced at its annual sports day on Saturday that it would give NT$468 million (US$15.35 million) in bonuses to its employees.
Expressing gratitude to employees for their contributions, TSMC chairman Mark Liu (劉德音) said at the event in Hsinchu that it would give each of its roughly 39,000 employees who were working for TSMC as of May 31 a bonus of NT$12,000.
The payout is expected to be disbursed next month, TSMC said.
The company’s sports day is a favorite among TSMC employees, because they generally receive a bonus. This year, each employee is to receive the same amount as last year.
TSMC is experiencing sluggish sales growth in a generally difficult market, complicated by the US-China trade dispute.
Liu said the company expects sales to be slightly higher this year compared with last year, while sales for the global semiconductor industry as a whole are forecast to fall 12 percent.
TSMC founder Morris Chang (張忠謀), whom Liu replaced as chairman after he retired in June last year, attended this year’s sports day after missing it last year and drew a huge ovation.
Chang urged employees to help TSMC maintain its lead in technology, further upgrade its production technology and boost clients’ trust to help maintain the company’s status in the global market.
Meanwhile, TSMC chief executive officer C.C. Wei (魏哲家) responded on the sidelines of the event to speculation that the company is planning to build a solar power plant in Pingtung County.
He said that the power plant would be built by the company’s clients, not the company itself, but that TSMC would consume all of the power produced.
Green energy is critical to society and the economy, Wei said, while pledging that TSMC would do its best to push up the ratio of green power consumption to total electricity consumption.
With the speed cryptocurrency is emerging as the millennial generation’s alternative asset of choice in India, it is hard to imagine that just two years ago a couple of blockchain pioneers were briefly in police custody. Sathvik Vishwanath and Harish BV, cofounders of a then five-year-old start-up, were arrested in late 2018. No, they had not pulled off a shady initial coin offering. Their “crime” was that they put up a kiosk in a mall in Bangalore where customers could swap bitcoin, ether or ripple for cash or vice versa. That was the whole point of unocoin, their crypto token exchange.
A Chinese factory owned by South Korean semiconductor giant SK Hynix Inc yesterday halted operations after a plant worker was found to have an asymptomatic infection of COVID-19, Xinhua news agency reported. The South Korean worker based at the plant in Chongqing since February had departed on Thursday for South Korea, Xinhua reported. He was tested at Incheon Airport in Seoul and confirmed positive for COVID-19 on Saturday, it reported. All factory staff as well as staff and recent guests at the hotel where the worker lived have been isolated and given nucleic acid tests, the agency said. “We’re cooperating with the local government
FIVE NEW FABS: An acquisition of Siltronic would boost GlobalWafers’ market share from 17 to 30 percent, easily surpassing Japanese rival Sumco’s 25 percent GlobalWafers Inc (環球晶圓) yesterday said it is in final talks to acquire Germany-based Siltronic AG in a 3.75 billion euro (US$4.5 billion) deal, which might help it compete with its closest rival Sumco Corp of Japan. The acquisition would be the fifth for GlobalWafers since 2008, as it has grown to become the world’s No. 3 supplier of silicon wafers through such deals. GlobalWafers, which has a 17 percent market share, would see its market position greatly elevated to 30 percent when combined with Siltronic’s 13 percent, according to a presentation Siltronic gave to its investors at a quarterly conference in August. Sumco
A year of crisis for the lira has kept people in Turkey buying gold at a record pace. Now the appetite for more bullion risks becoming a drag on the currency just as a rally struggles to regain momentum. In the two weeks after Turkish President Recep Tayyip Erdogan cleared out the leadership ranks blamed for failing to stabilize the lira and draining reserves, Turkish retail investors and firms added US$2.2 billion to their gold holdings, taking them to US$36.4 billion, or almost triple the total last year, Turkish central bank data showed. People are not relenting in their zeal to own