Taiwan’s Evergreen Marine Corp and Yang Ming Marine Transport Corp have shared their windfall profits with their employees, doling out substantial year-end bonuses.
While the downward trend in freight rates will clearly temper carriers’ eye-watering profits in the future, since the start of the pandemic they’ve all been posting record results.
According to a report in Taipei Times, the nation's largest container shipping company distributed year-end bonuses of as much as 52 months’ wages to some of its employees last year, higher than the 40 months it offered in 2021.
Most employees were rewarded with year-end bonuses ranging from 10 to 45 months of wages, while those demonstrating superior job performances received the equivalent of 52 months of salary, the report said.
Shipping Gazette reported that Evergreen had declined to confirm the report or answer questions about the bonuses, merely saying that each employee had been compensated based on their performance.
Evergreen's local rival, Yang Ming Marine, planned to reward its employees with up to 13 months of their monthly salary, it added.
