Taiwan Shipping company Evergreen, that hit the headlines two years ago when its container ship blocked the Suez Canal for several months, is handing out massive bonuses to its 3100 workers after a jump in its profits according to media reports.
The pay rise for this year is predicted to equal 10 to 11 months' worth of workers' wages in 2022. Workers are receiving bonuses alone equal to roughly five years' worth of income when combined with a sizable 50-month bonus they received in December last year.
Evergreen, the company that was operating a container ship ran aground in the Suez Canal in 2021. It said that the bonuses will be distributed according to the individual performance of workers.
Annual salaries at Evergreen range between 44,745 US dollars ( Rs 37,00,807) and 171,154 US dollars ( Rs1,41,55,950), said the report citing a jobs website.
Evergreen reported nearly 40 per cent jump in profit after it made 16.25 billion US dollars for the financial year ending 2022 according to Singapore based The Straits Times.
The report stated the reason behind the huge profits was the growth in demand for consumer goods during the Covid-19 pandemic and rising geopolitical tensions. The last time the company issued bonuses, it cost around $93 million, the report said.