This company rewards employees with 5 annual salaries as a bonus

Taiwanese shipping giant Evergreen is handing out massive bonuses to its 3,100 employees. Evergreen Marine, which made headlines for the wrong reasons in early 2021 when a ship it operated got stuck in the Suez Canal, disrupting supply chains, handed out bonuses of up to 50 monthly salaries, News.com.au reported.

Combined with a huge 50-month bonus they were awarded last December, the workers will receive about five years’ wages in bonus payments alone, the media portal reported.

Evergreen said bonuses will be distributed according to employees’ individual performance. The company is spending a whopping $94 million, the money being given to workers through mid-year bonuses.

Annual salaries at Evergreen can range from $29,545 to $114,823.

Accordingly The Straits TimesThe company this week posted a record net profit of NT$334.2 billion (S$14.7 billion) for its fiscal year ended December 31, 2022 – up 39.82 percent year-on-year – thanks to the subsequent recovery in the global container shipping industry the lifting of the Covid-19 lockdowns in many countries and rising shipping prices.

The news of the 5 year bonus was widely shared on social media. Many social media users said they were “very jealous” of Evergreen Marine’s staff.

However, according to a report by Bloomberg, the recent payday could be as good as it gets for the foreseeable future. Shipping lines have warned that rapidly slowing global growth combined with falling freight rates is likely to hurt profitability this year. Evergreen Marine’s stock plunged 54% over the past year after posting an impressive 250% gain in 2021.