The Strategist

Evergreen shipping company pays employee bonuses of 50 salaries

01/11/2023 - 09:52

The Taiwan-based shipping firm Evergreen Marine gave its staff an annual incentive equivalent to 50 monthly salaries. Evergreen tripled its 2020 level and increased its gross sales to $20.7 billion annually, up nearly 30% from 2021.

According to the company, the annual bonus has occasionally exceeded 52 monthly salaries. For instance, some staff reportedly earned a $65,000 bonus on December 30 according to local media sources. Bloomberg sources claim that these substantial payments were only paid to people who were directly obligated by contracts to Evergreen's Taiwan branch.

For instance, workers in the company's Shanghai division expressed great dissatisfaction with their annual bonus and complained about the unfair management style. They earned a bonus equal to five to eight months' worth of pay, according to the news website Caixin.

In the spring of 2021, Evergreen’s ship grounded in the Suez Canal, closing the whole channel. In order to avoid the Cape of Good Hope, marine carriers had to take a longer and more expensive route. For more than a week, the Suez Canal was closed, costing millions of dollars in lost revenue.



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