Taiwan carmaker Yulon Group announced Thursday that the company’s employees will receive a pay raise this year, the highest being 25 percent, in response to the overall changing business climate.

In a statement, the group said the structural salary adjustment will benefit workers at Yulon Motor, Yulon Nissan Motor, Yulon Finance Corp., Luxgen Motor and the company’s other subsidiaries.

As the automotive industry is going through a transformation and the need for talent is growing amid a rapidly changing business climate, the group has decided to introduce a structural pay adjustment accordingly, Yulon Motor Chairperson Yen Chen Li-lien (????) said in a video message prior to the Lunar New Year holiday.

Each company within the group will make its own adjustments and with pay raises of up to 25 percent in some instances, Yen said.

According to the chairperson, Yulon Group made a full return to profitability last year.

On Thursday, the group said it expects the pay hike to help it retain key talent and recruit new workers.

Source: Focus Taiwan News Channel