TSMC pays bonus to 28,000 employees
TSMC is a pay a $400 bonus to each of its 28,000 employees who started work before May 30th. The bonus marks the 25th anniversary of the founding of TSMC. 25 years ago, in 1987, TSMC kicked off with 285 employees. By the end of this year it expects to have 36,000 employees.
The company was founded as a joint venture between the government of Taiwan and Philip, with Philips providing the initial process technology. It was the best investment Philips ever made.
Announcing the bonus, TSMC CEO Morris Chang said it was the first time a bonus had been paid to employees.
TSMC had a 62% surge in profits in Q3 and a gross margin just shy of 50%.
Chang expects a subdued Q4 for the semiconductor industry due to inventory issues, with renewed growth in Q2 2013.