Formosa Plastics Group to raise wages by 4.52%

Focus Taiwan
Date: 2015/07/01
By: Pan Chi-i and Frances Huang

Taipei, July 1 (CNA) Formosa Plastics Group (FPG, 台塑集團), one of Taiwan’s leading petrochemical conglomerates, said Wednesday that the group has decided to raise wages for its employees by about 4.52 percent following negotiations with its labor union.

The hike includes a 3.5 percent raise in monthly salaries and NT$6,000 (US$193) in allowances for the entire year, which represents a 4.52 percent increase in monthly pay for employees.

Before the decision, the union had demanded a 4 percent raise in wages and a NT$10,000 increase in allowances. FPG President Wang Wen-yuan (王文淵) finalized the increase.

The 4.52 percent hike was higher than a 3.55 percent rise seen a year earlier, and also the highest since 2011, when the group boosted wages by 5.26 percent.     [FULL  STORY]