Taiwan’s TSMC cancels athletic meet but hands out bonuses

Chip-making company has done well even during the coronavirus pandemic

A previous edition of the TSMC Sport Day 

A previous edition of the TSMC Sport Day  (CNA photo)

TAIPEI (Taiwan News) — Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC), the world’s largest contract chip maker, announced Friday (Sept. 11) it was canceling its annual athletics meet, but employees could expect a bonus of NT$12,000 (US$410) each.

The company’s sports event fell victim to the Wuhan coronavirus (COVID-19), with the funds originally budgeted for its organization turned into NT$1,000 shopping vouchers for each TSMC employee in Taiwan, CNA reported. In addition, all 42,000 staff members would get a bonus of NT$12,000, costing the semiconductor giant NT$504 million.

The company, which has been praised for being successful even during the pandemic, said it would not forget its social responsibilities. In order to fulfill its obligations to society, it would spend NT$20 million to fund sports activities at schools in remote parts of Taiwan.