Electrical machinery and automobile manufacturing companies are moving away from the annual pay raise system in a bid to reinforce performance-based pay and rein in payrolls.

Analysts said result-oriented pay already accounts for 60 percent of salary systems at leading electrical machinery makers and about half of the wage systems at automakers.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.