With the bumper harvest of the shipping industry in 2021, the global container ship company has made a lot of money in the past year. Before that, Evergreen Shipping shocked the industry with a huge year-end bonus of 40 times the monthly salary. The pressure on Yang Ming Shipping, which is the three major container shipping companies in Taiwan, has doubled.
On January 14, Yang Ming Marine held a board meeting and decided to increase the year-end bonus from the original 8 months to 12 months.
According to Taiwan media reports, the 8 times monthly salary incident of Yangming Shipping made employees angry at the major shareholder "Ministry of Communications" in Taiwan, and Zheng Zhenmao, chairman of Yangming Shipping, was under tremendous pressure for this.
Under tremendous pressure from employees, Zheng Zhenmao decided to "re-negotiate" the year-end bonus. On January 14, the decision was made to increase the bonus for another 4 months from the 8 months proposed last time. Yang Ming said that considering the gap with its peers , the board of directors decided to increase the year-end bonus for 4 months in addition to the previously proposed 8 months, and also agreed to an average salary increase of about 4% for all employees in the new year. In order to appease the internal emotions, I also hope that the employees can understand and hope to keep the position of director.
Yang Ming Shipping said that since the container shipping industry is a globally competitive industry, the year-end bonus of the company’s employees cannot be too far behind that of its peers. At the same time, considering that Yang Ming Shipping itself has a shareholding from the Taiwan government department , the year-end bonus still cannot be compared with that of its peers. Compared with private companies, in order to meet the expectations of employees as much as possible, they decided to issue 12-month bonuses; in addition, they will be issued one month before the Spring Festival. The Spring Festival is approaching, so the year-end bonus can reach up to 13 months.
Yang Ming Marine pointed out that the distribution of performance bonuses is handled in accordance with internal regulations. Although there is an upper limit for bonus transfers, the board of directors of Yang Ming Marine Transport supports the appropriate adjustment of bonuses with reference to industry standards, and the level of bonuses will also be determined according to individual performance. At the same time, due to its good performance, Yang Ming Shipping will also try to redistribute the bonuses for the three festivals this year.
