Staff writer, with CNAFormosa Plastics Group (FPG, 台塑集團) is to reduce its year-end bonus for employees due to weaker profits resulting from falling product prices, a source within the industrial conglomerate said yesterday. FPG’s year-end bonuses are closely watched by the market, because they tend to set the benchmark for the private sector. After the release of the fourth-quarter earnings report, executives would sit down with union representatives to discuss the year-end bonus, the source said. FPG added a cash gift of NT$15,000 to the previous to the year-end bonus, but the group decided to scrap the gift after raising the ceiling for year-end bonuses to seven months of salary from six months, the source said. However, the union might request that the cash gift be maintained this year because of the reduction to the year-end bonus, the source said.

Source: Taipei Times December 24, 2019 15:56 UTC