TAIPEI (TVBS News) — Taiwan High-Speed Rail (台灣高鐵) announced on Wednesday (Jan. 8) a year-end bonus of 3.27 months, marking a significant milestone in the company's bonus structure. The THSRC Labor Union (高鐵企業工會) revealed that with the board's support, the total bonus could exceed 6.5 months this year, surpassing the previous year's 6 months.
The union highlighted the impressive revenue growth in 2023, which led to a contentious negotiation process. Initially, the company capped the total bonus at 4.4 months despite record revenues post-pandemic. To address this, the union initiated a dispute mediation and strike preparation, which resulted in a bonus increase to 6 months by incorporating NT$2 billion in additional revenue from lowered syndicate loan interest rates.
Over nine months of intense negotiations, the union and the company reached an agreement on the bonus distribution rules. Although operating income rose in 2024, so did costs, making the original bonus proposal similar to 2023's. However, the union's persistent efforts led to a new structure aligning with their demands, with the board's approval.
The union and the company resolved a major disagreement over distributing year-end and performance bonuses. They agreed to equalize the total amount allocated for both, ensuring fairness. The total bonus will be distributed in three parts: operational incentive, year-end, and performance bonuses. The operational incentive bonus, already paid last Thursday, and the year-end bonus announced today, together exceed the performance bonus total.