Company Is Giving Their Employees Bonus Equal To ‘5 Years’ Salary

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.

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, according to The Straits Times. This success was attributed to the global container shipping industry’s recovery following the lifting of Covid-19 lockdowns in many countries as well as to rising shipping costs.

Social media has been used extensively to spread the word about the five-year bonus. Numerous social media users expressed their “extreme envy” of the Evergreen Marine staff.

The most recent paycheck might be the best thing that happens for the foreseeable future, Bloomberg reported.

Shipping firms have issued a warning that this year’s profits will likely suffer from the combination of quickly slowing global growth and declining freight prices. Evergreen Marine’s shares experienced a 54% decline in 2017 following a remarkable 250% increase in 2021.