A Taiwanese shipping company is celebrating a successful year by rewarding employees with massive performance bonuses. According to a Bloomberg report, Evergreen Marine Corp. has given year-end bonuses equal to 50 months’ salary, or more than four years’ pay, on average.
The size of the bonus is determined by an employee’s job grade and function, the report quoted sources as saying. The massive bonuses are only available for contracts based in Taiwan.
Evergreen Marine said in a statement on Friday that year-end bonuses have always been determined by the performance of the company overall and the individual performance of employees.
Evergreen Marine made internet history in 2021 when one of its ships became stuck in the Suez Canal. During a sandstorm, the super tanker ‘Ever Given’ became wedged diagonally across the canal, disrupting trade for nearly a week.
But over the past two years, Evergreen Marine has benefited from a shipping boom brought on by the pandemic. In 2023, the company is anticipated to generate $20.7 billion in revenue, nearly tripling its 2020 sales.
According to Taipei’s Economic Daily News, some of its Taiwan-based employees received bonuses totaling more than $65,000 on December 31.
The exorbitant bonuses have enraged Evergreen Marine Staff in Shanghai. Employees in Shanghai received bonuses worth only five to eight times their monthly salary, local media reported.