KMT to lay off more than half its staff

Party officials receive fundraising targets

Taiwan News
Date: 2016/11/09
By: Matthew Strong, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – The main opposition Kuomintang announced Wednesday it was planning to

By Central News Agency

By Central News Agency

lay off more than half of its staff at a cost of more than NT$1.5 billion (US$47.5 million).

The party has been encountering financial difficulties amid a dispute with the government’s Ill-gotten Party Assets Settlement Committee, which has tried to shut off some of its accounts amid investigations into the origin of its assets.

The number of party employees would be cut by 58.3 percent, which might lead to severance and retirement payments totaling between NT$1.5 billion and NT$1.8 billion (US$57.1 million), according to a decision approved by its weekly Central Standing Committee meeting Wednesday.

The party headquarters would cut its staff from 134 people to 80, while local party departments would see their total number of employees fall from 609 to 230. The local offices would still be allowed to employ extra personnel if they could afford it through local fundraising, reports said.    [FULL  STORY]

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