Evergreen Workers Receive Generous Bonuses: Reports

Evergreen Marine Corp, the largest container shipping company in Taiwan, reportedly distributed year-end bonuses of up to 40 monthly wages to some of its employees yesterday.

Some Evergreen employees have received approximately NT $ 2 million (US $ 72,228) in individual bonuses, local media reports said.

A couple who are entry-level directors at Evergreen told the Chinese-language China Times that they received a total year-end bonus of NT $ 5 million.

An Evergreen Marine Corp cargo ship is anchored in Kaohsiung Harbor on November 8th.

The two told the newspaper that they earn a base salary of NT $ 60,000 and have been with the company for over 10 years.

The freight forwarding giant did not confirm the amount of the individual bonuses, but said that every employee is paid based on performance.

In spite of the startling wreck of one of its ships in the Suez Canal in March, Evergreen reported net income of NT $ 158.27 billion for the first three quarters of this year, an annual increase of 1,347.32 percent on earnings per share of NT $ 30.27.

Evergreen’s next largest peer, Yang Ming Marine Transport Corp (陽明 海運), rewarded its employees with up to eight monthly salaries as a year-end bonus, several media reported yesterday without disclosing how the information was obtained.

The mailer reported net income of NT $ 109.88 billion for the first three quarters, up 5,839 percent over the previous year. The company’s earnings per share reached NT $ 32.73, the highest among local competitors.

Shipping companies said the significant sales growth was due to rising freight rates amid labor shortages and congestion in ports around the world during the COVID-19 pandemic.

Evergreen’s shares fell 1.04 percent to NT $ 142.5 in Taipei trading yesterday, while Yang Ming’s shares fell 2.81 percent to NT $ 121.

During the year, company shares rose 253.81 percent and 325.64 percent, respectively, according to data from the Taiwan Stock Exchange.
Source: Taipei Times (with CNA)

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