Living Wages
Living wages per adult compared with national minimum wage The minimum wage and the living wages are presented as net wages. Generally, all employees has individual tax percentages, we have therefore used local common taxation rules and applied it to the local minimum wage. To avoid monthly differences in salary pay out due to illness or holidays, the net wages has been recalculated to correspond a full month. Overtime has been excluded from the wage calculation, and pension and similar social security compensation, that are not paid out, are not included in the wage calculations. Employees on maternity leave or long-term sickness leave are excluded as LTP Group does not pay their wages in that period. We find that 100 % of our employees in scope have net wage payout above net minimum wages, and that 39 % of our employees in scope have a net wage payout above net living wages. We found 10 and 34 cases of employees seemingly not earning minimum wage in Lithuania and Romania respectively, and have investigated the reasons for the result. We found that it was due to personal tax situations or personal choices regarding pension and social security compensation. We expect that it will be a reoccurring situation that we need to investigate specific employee wages to ensure that minimum wage are paid out. The management in each country relates to their specific result and situation, and set forth initiatives to maintain or increase the number of employees who receives a living wage.
Furniture
Garment
Kaunas (EUR)
2022
2023
%
Kedainiai (EUR)
2022
2023 %
Minimum wage
550
633 100.0
*
Minimum wage
550 633 100.0
Living wage
758
733
83.4
Living wage
771
730 67.1
Lviv (UAH)
2022
2023
%
Minimum wage
4,830
5,393 100.0
Silale (EUR)
2022
2023 %
Living wage
12,389
16,272
49.0
Minimum wage
550 633 100.0
Botosani (RON)
2022
2023
%
Living wage
495
645
99.0
*
Minimum wage
-
2,079 100.0
Living wage
-
2,509
16.4
Saltillo (MXN)
2022
2023 %
Harlau (RON)
2022
2023
%
Minimum wage
-
5,227 100.0
*
Minimum wage
-
2,079 100.0
Living wage
- 10,679
65.6
Living wage
-
2,977
18.0
Ho Chi Minh (VND)
2022
2023
%
Minimum wage 4,400,000 4,680,000 100.0
2030 Target
Living wage
6,700,000 8,085,500 34.4
65 % of all employees receives net payout above living wage
*) We have investigated the reasons for the result with 10 and 34 cases of employees seemingly not earning minimum wage in Lithuania and Romania respectively, and we found that it was due to personal tax situations or personal choices regarding pension and social security compensation.
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