As the year draws to a close, many employees eagerly await their year-end bonuses.
In Taiwan, prominent container shipping company Evergreen Marine has made a strong impression — again — by reportedly granting its employees an average year-end bonus equivalent to 20 months’ salary.
Source: Evergreen Marine
Additionally, United Daily News reported that each employee will receive an extra 3.1 months’ worth of bonuses.
The significant profit growth in 2024 enabled the shipping company to reward its employees with nearly two years’ worth of bonuses.
In the third quarter of 2024 alone, Evergreen Marine reported a 109.84% increase in revenue compared to the previous year, reaching NT$152.79 billion (about S$6.36 billion).
Source: 長榮海運EVERGREEN MARINE CORP. on YouTube
From this, the company’s net profit totalled NT$61.91 billion (about S$2.57 billion).
In the first three quarters of the year, Evergreen Marine earned a cumulative revenue of NT$347.76 billion (about S$14.45 billion) and net profits of NT$108.75 billion (S$4.53 billion), reflecting a growth of 67.98% in revenue and 239.40% in profits compared to 2023.
Evergreen Marine’s generous year-end bonus is no surprise to its employees, as the company has a history of even larger payouts in previous years.
In 2021, the company paid an impressive 40-month year-end bonus, followed by an even more substantial payout of 45 to 50 months in 2022.
However, as profits declined in 2023, the bonus was reduced to four to six months — still higher than many other companies in the industry.
Taiwanese people are closely watching the bonuses offered by Evergreen’s competitors, Yang Ming and Wan Hai, both of which are also part of the country’s top three container shipping companies.
Last year, Yang Ming’s employees received just one month’s bonus, but this year, it is estimated that they will receive around 5 months’ worth.
Also read: Taiwanese Shipping Company Evergreen Gives Employees Mid-Year Bonus Of 10 To 11 Months’ Salary
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Featured image adapted from Evergreen Marine.
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