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Business leader warns of job cuts, inflation after wage hike
Explore the implications of Taiwan’s minimum wage increase as ROCCOC Chairman Paul Hsu warns of potential staff cuts and inflation, urging government action to support businesses and curb economic challenges.2024/09/04 16:17 -
National Police Agency debunks rumors of bonus cuts
The National Police Agency has denied rumors of cutting year-end bonuses for police officers, clarifying that the bonuses are distributed according to the provisions of the Executive Yuan. Police officers who are employed by Jan. 31 and still on the job by Dec. 1 would receive a year-end working bonus of 1.5 months, with no specific stipulations for police officers. Last July, the Executive Yuan approved a 15% increase in police duty allowances, the first adjustment in 30 years, benefiting nearly 70,000 officers nationwide. The agency reaffirmed its support for police officers and commitment to improving their working conditions and benefits.2024/02/15 18:24 -
Taiwan cuts 2023 GDP growth to 1.42%, lowest in 14 years
Taiwan’s 2023 GDP growth forecast has been lowered to 1.42%, the lowest in 14 years, due to weaker exports and private investment. Year-end bonuses for Taiwanese workers have also been affected, with the average amount shrinking to 1.08 months’ worth of salary, hitting a 10-year low. The financial industry leads in bonus payouts with an average of 1.83 months’ salary, followed by the semiconductor industry at 1.38 months. The healthcare services industry averages just 0.97 months of salary, while the accommodations and food services sector lags further behind at only 0.59 months. Despite the downward revision, the DGBAS remains optimistic for 2024, forecasting a GDP growth rate rebound to 3.35%. However, challenges such as the Ukraine-Russia war, the Israel-Palestine conflict, and ongoing inflation may pose risks to the global economy. Looking ahead to 2024, local job banks predict pay increases in 47.5% of companies, with an average salary hike of 3.2%, slightly lower than in 2023. Experts caution that Taiwan’s economic recovery may not be as swift as hoped.2023/11/29 16:04 -
AUO closes production lines in Tainan
AUO Corporation unexpectedly laid off around 200 employees on Friday (Aug. 4). This comes as a part of the parent company’s strategy to shut down two of their production lines, C5D and C6C, located in Tainan and move production to other lines in hopes of improving overall operational efficiency.2023/08/04 22:16