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Samsung to deliver performance bonuses to workers next week

All News 16:20 July 03, 2020

SEOUL, July 3 (Yonhap) -- Samsung Electronics Co., the world's largest memory chip and smartphone vendor, will provide handsome performance-based bonuses to its employees next week, industry sources said Friday.

Samsung plans to give its workers what it calls target achievement incentives (TAI) based on their performance, which could be maximum 100 percent of their monthly salary. Samsung pays out TAI twice a year.

Workers at the chipmaking business are reportedly to receive a bonus equivalent to their monthly salary, while those in the mobile and visual display business divisions are likely to receive 75 percent of their monthly wages as incentive payments.

This file photo, taken on June 11, 2020, shows an entrance to Samsung Electronics Co.'s plant in Suwon, south of Seoul. (Yonhap)

Samsung posted operating income of 6.4 trillion won (US$5.3 billion) in the first quarter of the year, up 3.43 percent from a year earlier, while sales rose 5.61 percent on-year to 55.3 trillion over the period.

Its semiconductor business helped the company to stay afloat on the back of robust demand of server chips sparked by the pandemic-driven stay-at-home economy.

Samsung is scheduled to announce its second-quarter earnings guidance next week. Analysts here expected the company to see increased earnings in the April-June period, with its chip business remaining strong.


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