Taipei, March 11, 2010 (CENS)--Formosa Plastics Group (FPG), Taiwan`s leading manufacturing conglomerate, plans to raise the salaries of the 75,000 employees of its four major subsidiaries, Formosa Plastics, Nan Ya Plastics, Formosa Chemicals and Fibre, and Formosa Petrochemical, by 3% in July.

The pay hike underscores the business upturn of the group, which froze its employee`s salaries last year, due to the impact of global financial tsunami.

Along with the pay hike, Wang Wen-yuan, chief executive officer of FPG, will also carry out reform of the group`s personnel system. One major component of the reform is inclusion of special compensations for 6,000 managerial staffers into the base for the calculation of their retirement payment, thereby allowing them to collect extra NT$4.5 million upon their retirement.

The move is meant to narrow the gap between their pays and pays for managerial staffers of the group`s tech subsidiaries, Nan Ya Technologies and Inotera Memories, both DRAM (dynamic random access memory) makers.

Another change in the personnel system is the requirement for employees on the positions of specialist or senior special list to obtain at least an A grade evaluation for their performance in the recent three years before being qualified to attend the examination for promotion. In addition, they must attend the examination of TOEIC and gain at least 550 points, a requirement meant to facilitate further internationalization of the group.

Meanwhile, to intensify employee loyalty, any person who leaves will not be allowed to return to the group.

(by Philip Liu)