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Yuyuan Group: Grant Us $99 Million To Increase Employee Benefits Strike

2014/8/7 13:03:00 59

Yuyuan Group Improves Employee BenefitsStrikes And Hits Mid Term Results

< p style= "text-align: center" > < img border= "0" align= "center" alt= "" src= "" /uploadimages/201408/07/20140807010539_sj.JPG "/" < > > "
< p > yesterday, the world's largest footwear enterprise < a href= "http://sjfzxm.com/news/index_f.asp" > Yuyuan group < /a > announced that the company plans to allocate $99 million to raise the living allowance and welfare benefits of employees from factories in China. In addition, the Dongguan strike incident will also have a significant negative impact on Yuyuan group's first half performance. < /p >
< p > in the announcement, Yu Yuan said that the additional amount of US $99 million was mainly due to the fierce competition in the labour market and the measures taken by the group to retain staff. In April this year, a large number of staff strikes took place in the Gao Yuan factory of Yuyuan group, protesting the company's failure to buy social security for employees. The strike lasted nearly two weeks. The loss caused by the suspension operation of Gao Gao shoe factory was 27 million USD. In order to quell the controversy, Yuyuan group has set aside 37 million US dollars for the provision of the welfare allowance for the shoe factory, and has increased the living allowance for the employees of the Gao shoe factory for 31 million dollars. < /p >
The P Gao Gao incident triggered a chain reaction of other factories. Yuyuan group announced that it would make additional provision of $53 million for other factory employees' welfare benefits and increase the allowance of $46 million to other factory employees. In the future, this amount is expected to continue to increase. < /p >
< p > > a href= "http://sjfzxm.com/news/index_f.asp" > Yu Yuan Group < /a > said that the estimated cost and expenditure of about $112 million will be reflected in the company's performance in the first half of June 30th this year, and the company's performance will be seriously negatively affected. As of March 31st this year, Yuyuan group's unaudited comprehensive profit of about $70 million 200 thousand in the first quarter of this year could only partially hedge against an additional $112 million in expenditure. Yuyuan group's interim results announcement will be published on the 13 day of this month. < /p >
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