TSMC Employees Divided Over Lower Than Usual Pay Raise

TSMC's annual employee salary increases are based on several conditions, such as seniority and performance. The latest of these came out at a 5% maximum, indicating that not all employees would see a pay raise this year, and those that would have to contend themselves with a much lower raise than they had previously gotten.

Naturally, the news generated a mixed reaction from the employees, reports the United Daily News (UDN). Some of them were disappointed particularly due to the high inflation in Taiwan and the rate of previous upgrades. Inflation in Taiwan crossed 3% in January after being on a consistent downtrend since the latter half of 2022.

However, some employees saw their pay increase by as much as 10% last year, so they could better bear the inflationary pressures. Taiwan's inflation peaked at 3.6% in June 2022, a level it had previously crossed only during the aftermath of the 2008 global financial crisis and the Great Recession.