Innolux raises salaries, recruits talent
Taiwan News, Staff Writer
2014-08-11 10:39 AM

As the display panel market heats up, Innolux (3481) raised the salaries of 16,000 mid-level employees this month with highest raises totaling 10% to 20%. The company will also recruit 3,000 new employees to fully focus on shipments in the peak season.

Innolux confirmed these salary increases Sunday but would not comment on the extent of raises. The company emphasized that the difference in wage increases were based on individual performance. Institutional investors view these raises and large scale recruitment as a sign of Innolux’s confidence in the number of orders coming in the latter half of the year.

This latest salary increase is the second wage adjustment at Innolux this year. In May, the company first raised the salaries of line operators and entry-level workers. Now, mid-level engineers and management have received raises as a way for the company to retain talent and focus on output.

Innolux surpassed Samsung Display in market share of large display panels over 9.1 inches and Ultra HD television panels in Q2, second only to LG Display.

According to reports, approximately 16,000 employees have benefited from Innolux’s latest wave of raises. Personnel exhibiting outstanding performance saw increases of 10% to 20% and overall wage increases exceeded last year’s 3%. Innolux’s industry peer, AUO (2409) raised employee salaries in the top half of this year but there is no indication the company is preparing a second wave of raises.

The booming display panel market has led to substantial improvement Innolux’s fundamentals. Profit grew by a factor of 16 last quarter with net income per share coming in at NT$0.33, significantly better than the NT$0.02 posted in Q1. Institutional investors expect continued profit growth this quarter and the company is also optimistic regarding performance in the latter half of the year.

In order to meet peak season demands, Innolux will recruit 1,000 engineers and 2,000 line operators in the near term to add sufficient manpower to display panel production.

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