Focus Taiwan
Date: 2019/03/26
By: Wei Shu and Frances Huang
Taipei, March 26 (CNA) China Steel Corp., the largest steel maker in Taiwan, has
CNA file photo
decided to raise employee wages by 3.5 percent after posting its highest net profit in eight years.
A board meeting held on Monday approved the wage hike plan, which is expected to take effect April 1, marking the seventh consecutive year the steel maker has raised wages, China Steel said.
It is also the second consecutive year China Steel has hiked salaries by 3.5 percent, the company said. From 2013-2017, wage increases ranged from 2.2-2.8 percent.
China Steel said the company currently has a workforce of about 10,300 and along with bonuses the upcoming salary hike is expected to increase labor costs by more than NT$700 million (US$22.7 million) a year. [FULL STORY]
