By: Wei Shu and Evelyn Kao
Taipei, June 27 (CNA) The Formosa Plastics Group (FPG), one of Taiwan's leading conglomerates, said Thursday it will increase the salaries of its employees across the board by 3.378 percent, starting in July.
With the wage hike, the group's 33,000 employees will see an additional NT$1,800 (US$58.03) per month on average on their pay slips, according to the group.
The decision, which was reached in a meeting earlier in the day with its workers' union representatives, will cost FPG NT$59.4 million per month, the group said.
This is the fifth consecutive year that FPG is raising salaries by more than 3 percent, but the 3.378 percent agreed on is the lowest over the five-year period. [FULL STORY]