Evergreen, a major Taiwanese shipping company, is rewarding its 3100 workers with substantial incentives. The shipping firm will now provide its workforce mid-year incentives worth an additional 10 to 11 months of income for their success in 2022 after awarding them in December with year-end bonuses worth up to 52 months’ salary, according to The Straits Times. The total possible bonuses for 2022 now exceed five years’ worth of salary.
Details on Employees at this company receive a bonus equal to five years’ worth of salary
According to Evergreen, bonuses will be given out based on each employee’s performance. The massive $94 million that the corporation is spending will be distributed to employees as bonuses at the halfway point of the year.
At Evergreen, annual compensation can range from $29,545 to $114,823.
The company this week announced a record net profit of NT$334.2 billion (S$14.7 billion) for its fiscal year ending December 31, 2022, up 39.82 percent year over year. This was made possible by the recovery of the global container shipping industry following the lifting of Covid-19 lockdowns in many countries as well as rising shipping costs, according to The Straits Times.
The five-year bonus news has been widely disseminated on social media. Numerous users of social media expressed their “extreme envy” of the Evergreen Marine personnel.
Bloomberg reported that the most recent payment might be the best thing that happens for the foreseeable future. Shipping companies have warned that rapidly weakening global growth combined with falling freight rates are likely to hurt profitability this year. Evergreen Marine’s stock tumbled 54% last year after a stunning 250% gain in 2021.