Many employers lack funds for Tet bonuses It is that time of the year when bosses begin fretting about bonuses for employees. As the Tet (Lunar New Year) festival approaches, firms stuck in difficulties caused by the prolonged economic downturn are devising different approaches to paying bonuses for their employees. The bigger firms plan to pay higher bonuses in order to build worker loyalty and retain talent, but there are others left searching for face-saving options. In HCM City’s Binh Tan District, the 100 per cent foreign-invested Pou Yuen Viet Nam Company has prepared for Tet bonuses months ahead of the Tet. Cu Phat Nghiep, Chairman of the Trade Union of Pou Yuen Viet Nam, said despite the challenges facing the company, Pou Yuen earmarked VND600 billion (US$28.7 million) for giving Tet bonuses to its 75,000 workers to welcome the Year of the Snake. He said this year’s Tet bonuses would be higher than last year and those who worked for the company for over one year would receive a bonus of at least one month’s salary. The bonus for those who’ve worked for less than one year would depend on the number of months they have been with the… Read full this story
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