Taiwan’s Evergreen Marine Corporation is celebrating a successful year by awarding amazing bonuses, equal to almost 50 months’ salary to some of its staff.
The Taipei-based shipping company is handing out year-end bonuses equal to 4 years’ salary, or more on average, according to a source. The size of the windfall varies depending on an employee’s job grade and function and the outsized bonuses are only applicable for staff with Taiwan-based contracts, informed the source.
Evergreen Marine’s largesse is the result of an unprecedented industry-wide shipping boom over the past two years, driven by a pandemic-fueled surge in demand for consumer goods and freight rates. The company’s 2022 revenue is expected to soar to a record NT$634.6 billion ($20.7 billion), more than triple 2020 sales.
Evergreen Marine said in a statement on Friday that year-end bonuses have always been based on the company’s performance for the year and the individual performance of employees. They refused to elaborate any further on the matter.
Evergreen Marine gained internet infamy in 2021 when a ship it operated got stuck in the Suez Canal. The super tanker ‘Ever Given’ became wedged diagonally across the canal during a sandstorm, disrupting trade flows for nearly a week.
But Evergreen Marine has benefitted from a pandemic-era shipping boom over the past two years. The firm is expected to earn $20.7 billion in revenue in 2022 – nearly triple its 2020 sales.
A popular news channel of Taipei has reported that some of its Taiwan-based employees received more than $65,000 as bonus on December 31, as the company is giving out 50 months’ salary as bonus, or more to some employees.