Taiwan High Speed Rail Corp (THSRC) yesterday announced that it would increase its year-end bonus from 2.3 months of salary to 3.8 months, prompting the union to cancel its planned strike.
The board of directors would now give its employees extra compensation totaling about six months of salary, including a year-end bonus of 3.8 months of basic pay, as well as an extra performance bonus worth an average of 2.2 months of basic pay, and an additional payment of NT$12,000 (US$382), the company said.
After the company and union reached a consensus, the union announced it would suspend its planned strike.
Photo courtesy of Taiwan High Speed Rail Corp via CNA
Meanwhile, the THSRC union on social media said that it had negotiated with the company to secure additional payments of NT$500 per day for personnel working on busy days, including April 3, May 10, June 7, Sept. 13, Oct. 9 and Dec. 27.
On Dec. 13 last year, THSRC’s board of directors agreed to give employees an average pay raise of 4.9 percent this year, with more than half the workforce set to get a raise of more than 5 percent.
At that time, the board also approved a year-end bonus of 2.3 months of wages, plus an additional bonus of NT$12,000.
That package was rejected by the union, which said that the proposed year-end bonus had only risen 0.3 months from a year earlier.
The union said the total bonus payments should total 25 percent of the company’s annual surplus and that the year-end bonus should be at least four months of salary.
In the past three years, THSRC’s profits have risen dramatically, from NT$3.3 billion in 2021 to NT$9.85 billion in 2022 and NT$18.72 billion last year.
The two sides started negotiations a few weeks ago, mediated by the Taipei Department of Labor, and reached a consensus yesterday.
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