Three Companies Singled Out for Low Wages|立委點名3上市櫃公司 獲利佳員工卻低薪

Taiwan's low wages are a serious issue. At the end of last year, there were 16 listed companies at the stock exchange market and 12 listed companies at the over-the-counter market that had a share price of over NT$ 200 and earnings per share of over NT$ 10. Three of them performed well but paid employees extremely low wages. Financial Supervisory Commission Minister Wellington Koo says they can't be compared because they are in different industries and the only thing the government can do is ask companies to disclose information.


How serious is the issue of Taiwan's low wages? During a legislative interpellation on May 1, Kuomintang Legislator William Tseng used statistics to illustrate the severity of the issue. He said last year, there were 16 listed companies at the stock exchange market and 12 listed companies at the over-the-counter market that had a per share price of over NT$ 200 and earnings per share of over NT$ 10. There were companies that performed well, but did not share the profits with employees. For example, Yageo, TTFB Company Limited, and Poya Living Mart all paid their employees extremely low wages.

Let everyone have a look. These owners are making money but don't have a conscience. Poya Living Mart is a general merchandise retailer, TTFB Company Limited is a restaurant operator, and Yageo is an electronic component manufacturer. I know that. So, we can't compare Poya Living Mart and TTFB Company Limited, because they are in different industries.

Tseng indicated that according to 2018 financial reports, Yageo's average employee benefits cost was NT$ 900,000, while the average board member remuneration was NT$ 114 million. Last year, Poya Living Mart earned NT$ 17.5 per share, but the average employee benefits cost was only NT$ 457,000. TTFB Company Limited's average employee benefits cost was NT$ 389,000. Scholars say the average employee benefits budget is regulated by the government and calculated based on a set ratio against the revenues of a company when it was established and its monthly revenues. It is used for things such as employee trips, year-end raffles, and benefits from dividend sharing.

There is an allocation range. Many owners think they will just allocate the minimum that is required, and even if no money is allocated, the fine is really low, just NT$ 500 to NT$ 1,000.

Following the interpellation, TTFB Company Limited issued a statement saying 70 percent of its employees are part time, so using an "average salary" number doesn't really reflect real individual employee wages. Furthermore, it doesn't differentiate between part-time and full-time employees when raising salaries, offering training, or granting bonuses. It added these conditions are extremely competitive in the hospitality industry. Meanwhile, Yageo said over 90 percent of its employees at its Kaohsiung production and manufacturing center work in production lines. Last year, the average salary and benefits amount for indirect supervisors exceeded NT$ 1 million, and the average salary and benefits for production line personnel greatly exceeded the basic wage. It added that it surpasses its industry peers in overall employee salary and benefits.