TAICHUNG, Taiwan (BRAIN)—How good a year did Giant Manufacturing have this year? So good that Giant is expected to award its Taiwanese employees year-end bonuses equal to a whopping 23 months’ salary.
According to Taiwan news reports, Giant’s revenues in the first three quarters of 2008 exceeded its entire 2007 revenues, and the company sees continued growth despite the global economic woes.
“Our company is not just doing well last year, but this year, and next year too," Giant chairman King Liu recently told reporters from the Taiwan News.
Taiwanese companies typically award bonuses equal to one or two months’ pay as part of the festivities surrounding the Lunar New Year, which in 2009 occurs in late January.
Giant officials told the China Economic News Service that the company designates a fixed 4 percent of its net earnings to the employee year-end bonus, in addition to a guaranteed one-month bonus.
The expected bonus is the talk of the Taiwan industry. Giant is the world’s largest bicycle manufacturer.
It is unknown whether Giant employees outside of Taiwan also will receive bonuses and to what extent.