Crisis? - not for Giant

alex_k

Well-Known Member
http://www.bicycleretailer.com/news/newsDetail/2098.html

Giant Employees Set for Huge Bonuses


TAICHUNG, Taiwan (BRAIN)—How good a year did Giant Manufacturing have this year? So good that Giant is expected to award its Taiwanese employees year-end bonuses equal to a whopping 23 months’ salary.

According to Taiwan news reports, Giant’s revenues in the first three quarters of 2008 exceeded its entire 2007 revenues, and the company sees continued growth despite the global economic woes.

“Our company is not just doing well last year, but this year, and next year too," Giant chairman King Liu recently told reporters from the Taiwan News.

Taiwanese companies typically award bonuses equal to one or two months’ pay as part of the festivities surrounding the Lunar New Year, which in 2009 occurs in late January.

Giant officials told the China Economic News Service that the company designates a fixed 4 percent of its net earnings to the employee year-end bonus, in addition to a guaranteed one-month bonus.

The expected bonus is the talk of the Taiwan industry. Giant is the world’s largest bicycle manufacturer.

It is unknown whether Giant employees outside of Taiwan also will receive bonuses and to what extent.

—Doug McClellan
 

tonyride

Don't piss off the red guy
Wow. That is amazing but I'm not surprised that Giant is doing so well. I love my Trance X1.
 

gtluke

The Moped
Well Giant makes like 75% of our bikes. Not the design but actually building them. If your bike was made in china it was probably made by Giant.
 

BiknBen

Well-Known Member
TAICHUNG, Taiwan (BRAIN)—How good a year did Giant Manufacturing have this year? So good that Giant is expected to award its Taiwanese employees year-end bonuses equal to a whopping 23 months’ salary.

I'd be interested to hear what the typical salary is for these workers. If they get paid $5 a day, 23 months salary isn't that much. :rolleyes:
 

rlb

Well-Known Member
Or maybe somebody misplaced a decimal point, or didn't convert some currency correctly :rofl: That would be pretty funny
 

tonyride

Don't piss off the red guy
I'd be interested to hear what the typical salary is for these workers. If they get paid $5 a day, 23 months salary isn't that much. :rolleyes:

You have to consider the cost of living when you're talking about their pay. People in those countries are not paying $1500 for car insurance, $10K+ a year in property tax, $100 for a pair of jeans, or $3000 for a bike.

By the way, there's a difference between made in Taiwan and made in China. I don't trust anything made in China but Taiwan has one of the most skilled workforces in the world. Oh, and it's not cheap living in Taiwan. It's no Indonesia or Thailand.
 
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