In economic downturn, workers still expect high Tet bonuses

VietNamNet Bridge – Garment, footwear and electronics enterprises plan to give to their workers the Tet bonuses valued at one or two-month salaries. Meanwhile, commercial banks, which always offered sky high Tet bonuses, still ponder on the Tet bonuses.

The reports submitted by enterprises to the Labor Union showed that labor intensive industries such as garment, footwear and electronics would offer one or two-month salaries to their workers as the Tet bonuses.

Chair of the Trade Union of the 100 percent foreign invested Pouyuen Company, which makes sports equipments, said the 2013 Tet bonuses would be a bit higher than the last year.

The company plans to announce the Tet bonuses in mid-December, which would be at least one-month salary (2.6-3 million dong), and 2.2-month salary at the highest, depending on the service length and the contribution of workers to the company’s achievements.

He said that the company has prepared 1 trillion dong in cash to give to its 75,000 workers.

Huynh Le Khanh, Personnel Director of Japanese Nissei Electric Vietnam with 5000 workers in Thu Duc district of HCM City, which specializes in making electronic parts, said workers would receive two-month salary in Tet bonus at the highest (the average monthly salary is 2.8 million dong). However, the Tet bonuses would be different, depending on workers’ contribution to the company.

Besides, the company would also prop up 100 percent of the train tickets for workers who come back to their home villages to celebrate Tet with family members.

The representative of Freetrend, a leather shoes maker said that the Tet bonuses have been written down in the collective labor agreement. The workers with the service length of one year would get one month salary, while those who have been working for the company for more than 10 years, would get two month salary for Tet bonuses.

While industry enterprises spend big money on Tet bonuses, despite the job decreases, the enterprises in the finance sector and commercial banks still weigh the conditions before setting the Tet bonuses.

In previous years, workers in other business fields all envied of the sky high Tet bonuses banking officers could enjoy. However, things would be quite different this year.

Human Resource Manager of a bank said the bank’s officers dare not ask about the Tet bonuses after a lot of officers have been laid off.

A lot of commercial banks still keep quiet about the 2013 Tet bonuses, though the information should have been released some days ago.

The director of a labor leasing company said he has been making every effort in order to be able to pay workers at 3.5 million dong a month, while the cash for Tet bonuses has caused a headache to him.

“If my clients make payment on schedule, we would give one month salary to workers. If not, every of them would receive 500,000 dong only,” he said.

In related news, the global wage report in 2012-2013 released by the International Labor Organization on December 7 showed that the salary growth rate all over the world is much lower than the growth rate seen before the crisis.

The monthly salary increased by 1.2 percent in 2011, down by 3 percent from 2007 and 2.1 percent from 2010.

Meanwhile, in Vietnam, the nominal salary increased by 26.8 percent per annum in 2006-2010. In the context of the high inflation, the actual salary still increases by 12.6 percent per annum.


Vietnam, workers, salary, Tet bonus, demand, difficulties