With the COVID-19 outbreak escalating around the world, the hiring outlook of enterprises in Taiwan has weakened to its lowest since 2017, a survey released by online job bank yes123 (yes123人力銀行) showed.
The survey found that about 91.1 percent of the enterprises polled were planning to hire newcomers after the Lunar New Year holiday, down 3.6 percentage points from a similar poll conducted a year earlier, the company said.
This year’s figure is the lowest since 2017, when about 90.9 percent of the employers said they would expand their workforces after the holiday.
Among those employers planning to recruit, the average was 15.6 job openings each, up from 15 in a poll conducted a year earlier.
Of employers that are not planning to expand their workforces, 5.1 percent said they would downsize their operations and 3.8 percent said that they would not fill vacancies if people left the firm.
The spread of COVID-19 has had an adverse impact on domestic demand in Taiwan, as many consumers preferred to stay home in a bid to prevent infection, yes123 spokesman Yang Tsung-pin (楊宗斌) said.
The tourism industry, including hoteliers and airlines, could see a bigger impact, while online shopping and food deliveries could benefit from a trend in which consumers tend to place orders from home, Yang said.
The survey found that 48 percent of respondents said that concerns over COVID-19 are expected to affect their businesses, while 9.4 percent said they are expecting to benefit.
ADJUSTMENTS IN PAY
Compensation offered by employers has also been affected.
The average monthly salaries offered by the polled enterprises to non-management employees stood at NT$33,110, down NT$266, or 0.8 percent, from a similar poll a year earlier.
For management posts, the survey found the average monthly salaries rose NT$146 or NT40.3 percent from a year earlier to NT$51,570.
The survey, conducted from Feb. 5 to Feb. 19, collected 903 valid responses and had a confidence level of 95 percent and a margin of error of plus or minus 3.26 percentage points.
HSBC Bank (Taiwan) Ltd (匯豐台灣商銀) has approved two sustainability-linked loans totaling NT$450 million (US$15.55 million) for Taya Group (大亞集團) and Sinbon Electronics Co (信邦電子), the bank said yesterday, adding that interest rates would fall if the borrowers’ sustainability performance improves. Those marked the first sustainability-linked loans granted by HSBC Taiwan, it said. While HSBC Taiwan has experience providing green loans for the nation’s developers of renewable energy sources to support their projects, the bank began focusing on sustainability-linked loans to meet rising demand from companies in other sectors planning to undertake sustainability programs, it said. “As we reward our clients who reach their
‘NEW TRAVEL MARKET’: The carrier initially planned to lay off about 8,000 people globally, but after government intervention reduced that to 18 percent of its workforce Cathay Pacific Airways Ltd (國泰航空) would cut 6,000 jobs and close its Cathay Dragon brand, the South China Morning Post reported, as part of a strategic review to combat the unprecedented damage caused by the COVID-19 pandemic. The Hong Kong-based airline is expected to officially announce the plan after the market close today, the newspaper said. It initially planned about 8,000 layoffs globally, but after government intervention reduced that to 18 percent of its total workforce, including about 5,000 jobs in Hong Kong, it said. The company, which posted a HK$9.9 billion (US$1.3 billion) loss in the first half, has for months
V-SHAPED RECOVERY: Local tech firms have benefited from strong demand for 5G deployment and electronic devices required for a low-contact economy, CIER said The Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) yesterday raised its forecast for the nation’s GDP growth this year to 1.76 percent, from its previous estimate of 1.33 percent, saying exports and private consumption have staged a V-shaped recovery from the COVID-19 pandemic in the second half of the year. “The upgrade aims to reflect the fast recovery in Taiwan’s exports and domestic demand,” CIER president Chang Chuang-chang (張傳章) told a media briefing. The Taipei-based think tank said the economy might have expanded 2.77 percent last quarter — emerging from a 0.78 percent decline in the second quarter — and would grow
Hon Hai Precision Industry Co (鴻海精密) founder Terry Gou (郭台銘) yesterday said that the company remains committed to its project in Wisconsin, but appeared to condition its completion on the receipt of state incentives, the Wall Street Journal reported. Gou said in a statement that Hon Hai, known as Foxconn Technology Group (富士康科技集團) outside of Taiwan, remains committed to its investment, although “market conditions and the COVID-19 pandemic” have altered the timing of its expansion and the specifics of its manufacturing plans. The company has over the past three years invested US$750 million to transform southeastern Wisconsin into a high-tech