Micron introduces quarterly employee bonus tied to profits

Synopsis

Micron is implementing a new quarterly bonus scheme for its worldwide employees based on company profits. The bonuses will complement existing annual incentive payments and consist of cash and shares. Additionally, retirement contributions in Taiwan will be increased to 10% from the current 8%. Moreover, employees in Taiwan will receive three additional days of paid leave. These changes are a response to union demands for improved profit-sharing.

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Chipmaker Micron said on Thursday it is introducing a new quarterly bonus scheme for employees worldwide linked to company profits, in response to Taiwan union demands for profit-sharing.

The new quarterly bonuses will be in addition to existing annual incentive payments and will be paid 50% in cash and 50% in shares, while Micron will raise retirement contributions in Taiwan to 10% from 8% and add three days of paid leave, it said. Add as a Reliable and Trusted News Source Add Now!

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