Print 13 comment(s) - last by kattanna.. on Sep 4 at 10:12 AM

Payouts will be about $325 per worker

Computer maker Lenovo has reported that its CEO Yang Yuanqing plans to share at least $3 million of his bonus with workers for the second straight year. Lenovo posted record sales for the year and the company’s CEO plans to spread his bonus amongst 10,000 workers with payment amounts going to recognize worker contributions.

Lenovo spokesperson Jeffrey Shafer said that the total amount the CEO paid out would be about $3.25 million, up from $3 million last year

“This is quite rare, especially for a chairman of a Chinese company, to use his personal money as a bonus to reward employees,” said Kirk Yang, a managing director at Barclays Plc in Hong Kong.

Lenovo CEO Yang Yuanqing

The shared wealth will be handed out to Lenovo staff in 20 countries with about 85% of those receiving money located in China. The average payment to individual workers at Lenovo will be around $325. While that may not sound like a lot of money, it is equal to about one month's pay for the typical city worker in China.

Lenovo currently has more than 35,000 employees around the world as of the end of March. 

Source: Bloomberg

Comments     Threshold

This article is over a month old, voting and posting comments is disabled

Good to hear!
By drumsticks on 9/2/2013 12:05:36 PM , Rating: 5
Nice to see some CEOs being good to their employees... even if it wasn't a very big bonus, sentiments like that always make people happy.

RE: Good to hear!
By bill.rookard on 9/2/2013 4:47:40 PM , Rating: 4
I agree, and it's amazing how little it takes to really endear your employees to you. I have a small business, and a dozen or so employees, and every the Christmas party is paid for by me personally, as do other occasional outings.

They're the ones who are truly critical to running my business, and I know it, so I take care of them. If only other CEO's realized it.

RE: Good to hear!
By inperfectdarkness on 9/3/2013 4:36:16 AM , Rating: 2
$323 is a huge bonus to factory workers in china.

RE: Good to hear!
By inperfectdarkness on 9/3/2013 4:38:04 AM , Rating: 2
Also want to point out that companies operated like co-op's are significantly better about "spreading the wealth" than those traded on public stock-exchanges.

RE: Good to hear!
By jbwhite99 on 9/3/2013 11:33:27 AM , Rating: 2
Look up 0992.HK or LNVGY on the Pink Sheets (American Depositary Receipts). Lenovo is publicly traded on the stock market - has been for years.

RE: Good to hear!
By inperfectdarkness on 9/4/2013 2:38:52 AM , Rating: 2
Yes. And Lenovo is one of the few that does things like this. Co-Ops (which are wholly owned by the workers employed therein) are much better about profit sharing--if only because the shareholders are employed there.

If only
By exeedorbit on 9/2/2013 12:18:38 PM , Rating: 5
If only the US execs would do that. And considering that their pay and bonuses are the highest in the world, they could afford to do it. But then again, greed is a thing.

RE: If only
By kattanna on 9/4/2013 10:12:22 AM , Rating: 2
But then again, greed is a GOOD!.

there... fixed it for you


Nice one
By groth1175 on 9/2/2013 5:17:58 PM , Rating: 2
I already loved their laptops they seem far more reliable and solid than the offerings from most other manufacturers, And now I learn the CEO does things like this? Keep this up Lenovo and I will be your customer for life!

RE: Nice one
By phatboye on 9/2/2013 6:09:21 PM , Rating: 2
My next laptop will definitely be a Lenovo

It pays in the long run as well
By max_payne on 9/2/2013 11:03:23 PM , Rating: 2
Nice gesture but that's a good investment in the company too. The workers which are rewarded by their good work will probably continue it or better themselves since the bonus may be bigger next time. That is if they don't change CEO, like hiring an American.

"I f***ing cannot play Halo 2 multiplayer. I cannot do it." -- Bungie Technical Lead Chris Butcher

Most Popular ArticlesSmartphone Screen Protectors – What To Look For
September 21, 2016, 9:33 AM
UN Meeting to Tackle Antimicrobial Resistance
September 21, 2016, 9:52 AM
Walmart may get "Robot Shopping Carts?"
September 17, 2016, 6:01 AM
5 Cases for iPhone 7 and 7 iPhone Plus
September 18, 2016, 10:08 AM
Update: Problem-Free Galaxy Note7s CPSC Approved
September 22, 2016, 5:30 AM

Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki