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2012, May 23

HK's Wage Hike Could Cost Employers HK$92.2M a Month

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HK's Wage Hike Could Cost Employers HK$92.2M a Month

by CFO Innovation Staff, 15 July 2010
topics:
Human Capital Management Management
tags:
minimum wage wage hike
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Hong Kong's lawmakers this week are expected to pass a minimum wage bill which employers say could cause businesses to fold, reports the South China Morning Post.

 

Employers claim that business is sustainable only if the rate is set at between HK$24 and HK$25, says the Post, adding that at HK$25, the extra cost would be HK$92.2 million a month, with 130,200 workers getting a pay hike. But labour unions demand that the minimum hourly rate should be no less than HK$33.

 

James Wong, the owner of four noodle shops, told the Post that he would increase the price of his HK$11 dishes to HK$15 if the minimum wage was raised to HK$33.

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What law will mean to workers and employers
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