Taipei-Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chipmaker, announced at its annual Sports Day on Saturday that it will give NT$$468 million (US$15.34 million) in bonuses to its employees.
Expressing gratitude to employees for their contributions, TSMC Chairman Mark Liu (???) said at the event in Hsinchu, where TSMC is headquartered, that it will give each of its roughly 39,000 employees who were with TSMC as of May 31 a bonus of NT$12,000.
The total payout, expected to be disbursed in December, will reach about NT$468 million, TSMC said.
The company's Sports Day is a favorite among TSMC employees because they generally receive a bonus. This year's amount per employee was the same as last year's.
The bonus comes at a time of sluggish sales growth for TSMC in a generally difficult market, complicated by the trade war between the United States and China.
Liu said the company expects 2019 sales to be slightly higher this year than last, while overall sales for the global semiconductor industry as a whole are forecast to fall 12 percent.
Company founder Morris Chang (???), whom Liu replaced as chairman of TSMC after Chang retired in June 2018, appeared at this year's Sports Day after missing last year's event and drew a huge ovation.
Chang urged the gathered employees to help TSMC maintain its lead in technology over its peers, further upgrade its production technology, and boost the trust of its clients to help maintain the company's status in the global market.
TSMC CEO C.C. Wei (???), meanwhile, responded on the sidelines of the event to speculation that the company is planning to build a solar power plant in Pingtung County.
He said the power plant will be built by the company's clients instead of the company itself, but TSMC will consume all of the power produced.
Wei said green energy is critical to society and the economy, and pledged that TSMC will do its best to push up the ratio of green power consumption to total electricity consumption.
Source: Focus Taiwan News Channel