TSMC to Further Hike Employee Pays in 2011
Employees at Taiwan Semiconductor Manufacturing Co. (TSMC) will receive one more pay raise in 2011 after enjoying a 15% hike in January and another raise in April this year, according to corporate chairman and chief executive Morris Chang.
Industry executives estimated the next hike rate at 3-5% although the company has yet to announce the exact number.
Chang disclosed the pay-hike plan after a recent meeting with senior government officials in charge of drafting Taiwan's technology development policy. He based the hikes on the estimated new high revenue and earnings for 2010.
In the first three quarters this year, the No.1 pure silicon foundry scored after-tax net earnings of NT$120.8 billion (US$4 billion), or NT$4.67 per share, spiking 1.14 folds from the same period of last year. Industry executives estimated the company is likely to rake in annual profits of NT$150 billion (US$5 billion) in 2010 thanks to excessive demands for the company's foundry capacities using advanced process technologies below 65-nanometer node.
With the hefty earnings estimated for 2010, the company's corporate-wide 30,000 employees are expected to receive approximately NT$700,000 (US$23,000) per person as year-end bonus this year, a 28% increase from last year's NT$547,000 (US$18,000).
Chang stressed that 2010 will be a harvest year for his company in terms of earnings and revenue gains, and his company's employee pays and bonus will be definitely the most lucrative of his industry.