TSMC reveals wage hike planBy Lisa Wang / Staff reporterTaiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said it is to raise employees’ regular wages by an average of 20 percent in an effort to acquire and retain talent. The last such move came in 2009, when it boosted employees’ regular pay by 15 percent, before scrapping long-term practices of stock bonus distribution for employees in 2010 in response to a major change in accounting rules. The worldwide median annual compensation for TSMC employees, excluding pensions and benefits, is NT$1.63 million (US$56,505), the company’s corporate social responsibility report on its Web site said. The structural wage adjustment would not affect the annual paycheck adjustments, it said. TSMC hired 5,087 new employees last year, bringing its total workforce to 51,297 at the end of last year.

Source: Taipei Times November 13, 2020 15:56 UTC