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Do not cancel year-end bonus

(China Daily)
Updated: 2008-12-17 07:56

Companies should not take advantage of the economic downturn by canceling year-end bonuses, says an article on the website www.china.com.cn. The following is an excerpt:

More than 60 percent of netizens in a recent survey said they were worried about receiving their year-end bonuses because of the financial crisis.

Most companies have still to decide on the payment of bonuses, but most netizens, however, have already prepared themselves for the disappointment. The survey found that the economic downtown will not necessarily affect all companies, so it should not be the sole factor in determining bonuses.

Though year-end bonuses are not a legal obligation in China, they are generally accepted as common practice. The weaker the economy is, the stronger the position employers are against their employees.

We should warn employers not to take advantage of present conditions at the expense of employees.

(China Daily 12/17/2008 page8)