The KMT, often described as the world's richest political party because of its extensive assets and the large number of businesses it runs, has experienced financial problems over the past two years after its more than 50 years of control of executive power came to an end.
KMT Chairman Lien Chan (
To ease its massive financial burden, the KMT has therefore worked out a downsizing plan that would involve cutting the pay of its staff by 10 percent to 20 percent starting next month and laying off 1,000 employees in two years.
As the KMT's Central Committee is set to discuss this downsizing plan at its meeting on Wednesday, rumors circulating among overseas Chinese communities say that the party is about to recall all 16 overseas party cadres and close all its overseas representative offices.
The reason for these actions, according to the rumor, is that the party doesn't believe there are any votes to be had from overseas communities.
Chou Chi-hsiang (
The current bottom line is a downsizing by about 50 percent, which would leave at least eight overseas representatives.
He also said that the money saved on personnel expenses and other fixed costs would be redistributed within the remaining overseas organization, which would lead to higher efficiency.
Chou went on to say that the functions of the party's US headquarters would be strengthened, and that a system of voluntary party cadres and workers would be established.
He also stressed that the KMT does not accept the view that there are no votes in the overseas communities, and that the party would definitely not close down all its overseas operations.
Chou is representing the KMT leadership at the 24th representative meeting of the KMT's US headquarters today, and he will also call a working meeting with all party cadres posted across the US.
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