Micron Grants Cash Performance Bonus of 40 Million Won to Engineers in Taiwan

Micron will provide Taiwanese engineers with a cash performance bonus of 1 million New Taiwan dollars (approximately 42.5 million won), in addition to separate stock awards.

Reuters Yonhap News

On September 11 (local time), Micron announced that the average total compensation for new engineers in Taiwan during the previous fiscal year amounted to 3.4 million New Taiwan dollars, when including cash bonuses and stock awards. The company also stated that it plans to grant stock awards based on annual performance evaluations to all employees working in Taiwan.

Prior to this announcement, local labor unions in Taiwan demanded a special cash bonus equivalent to seven years of base salary from the company. According to Bloomberg, this amounts to an average of about USD 170,000 per employee. In addition, the unions requested that the company establish a system to share a portion of future profits with employees around the world in the form of performance bonuses.

As calls grow to share profits generated by the artificial intelligence (AI) boom with staff, Micron’s competitors, Samsung Electronics and SK hynix, have also decided to distribute part of their profits to employees as performance bonuses. TSMC has also decided to increase the fund for profit-sharing bonuses paid to its employees by 30%.

Micron is considered one of the biggest beneficiaries of the AI investment boom. The high-bandwidth memory (HBM) produced by Micron is essential for AI accelerators such as those from Nvidia. Thanks to this, Micron’s net profit for the third quarter increased fifteenfold compared to the same period last year.

This content was produced with the assistance of AI translation services.