Evergreen Gives Employees Up to 11 Months of Mid-Year Bonuses After the Earlier 52 Months Bonus

Earlier this year, Taiwanese shipping company Evergreen surprised its employees by giving some of them 52 months of bonus. This time, the company has yet another surprise in store.

Once again, Evergreen will reward its employees with up to 11 months of a mid-year bonus after a hugely profitable year. This means that the employees will go home with about 60 months of salary for 2022!

Just how much is it that Evergreen made in 2022 that they are able to reward their workers with 2 rounds of bonuses?

According to CNA, Evergreen made NTD627 billion (approximately RM92 billion) in 2022, which was 28% more than previous years. Evergreen also announced that its mid-year bonuses will total NTD1.9 billion (approximately RM278 million).

However, things have not been as profitable for Evergreen so far this year, at least compared to 2022’s performance.

Evergreen Marine president Hsieh Huey-Chuan said that the company’s profits for the first 2 months of 2023 were NTD44.9 billion (RM6.5 million), a year-on-year decline of 59.94%. He believed that this was mainly caused by the Lunar New Year holiday and the impact of the Covid-19 pandemic on production lines.

The pandemic has resulted in a decrease in cargo volume and pushed freight rates into a downward spiral.

In terms of the future market prospects, Hsieh also said that the ongoing Russian-Ukraine war plays a role in the company’s profits, and for their market to rebound in 2023, it also depends on when the ongoing war between the 2 countries will end.

He expected the market to rebound somewhere during the 3rd quarter of 2023. 

Evergreen has about 3,100 employees with an average monthly salary of NTD60,000 (approximately RM8,000). 

The profits that they made last year are undeniably sky-high, but it is commendable of the employees for rewarding their workers with such high amount of bonuses.

 

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