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Yang Yuanqing  (Source: Harikrishna Katragadda / Mint)
10,000 workers get generous bonus from Lenovo CEO Yang Yuanqing

It will come as no surprise to anyone who follows the technology world that CEOs at major corporations make a ton of money. Often their bonuses are even more than their yearly income. The CEO of Lenovo, Yang Yuanqing, recently received a fat bonus of $3 million. Rather than stuffing that big bonus away in his own bank account, Yang Yuanqing gave it away.
 
The CEO took the $3 million bonus and distributed it among 10,000 junior level employees. Among the employees to receive a piece of the pie were receptionists, production line workers, and assistants. Each of those 10,000 employees received a bonus of 2000 yuan, which works out to about $314 USD.
 
Lenovo had its best fiscal year ever, which ended in March. Lenovo saw a 73% increase in net profit compared to the previous year and Yang had previously said that it was a "record-setting year for Lenovo."
 
It's nice to see an executive giving away a huge chunk of money to the employees that had as much to do with Lenovo's successful year as any executive within the company.

Lenovo has recently launched several new products and services, including new no-contract broadband plans for its mobile computers.

Source: CNN



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Great writing
By Dr of crap on 7/20/2012 10:17:16 AM , Rating: -1
Yes $3 million divided by 10,000 employees is $300, but the way it's writen, switching between dollars and yen, it a bit hard to follow.
So what do these people normally make? Because a bonus of $300 in the US wouldn't to much.




RE: Great writing
By kleinma on 7/20/2012 10:21:46 AM , Rating: 5
Yeah, screw that. I would never take a free 300 bucks. What a crappy CEO.


RE: Great writing
By octagonalman on 7/20/2012 10:38:04 AM , Rating: 2
The CNY 2000 that he gave away to each person should be worth about a month's salary to the entry-level staff.


RE: Great writing
By Spuke on 7/20/2012 11:35:57 AM , Rating: 1
I got a $300 "bonus" before I was a happy MFer!


RE: Great writing
By MZperX on 7/23/2012 12:11:52 PM , Rating: 2
Yeah, I got a $250 bonus with a letter of recognition not to long ago and was quite happy about it. This guy did good and emloyees will remember. Stuff like this goes a long way.


RE: Great writing
By xti on 7/20/12, Rating: 0
RE: Great writing
By Camikazi on 7/20/2012 10:42:13 AM , Rating: 1
Give me $300 then, it's not much so it wouldn't bother you at all. This isn't about the amount, it is about the action, the fact that he decided that he would give away his money to his employees.


RE: Great writing
By Belard on 7/20/2012 4:43:37 PM , Rating: 2
And in Chinese... thats about $2500+ in value.


RE: Great writing
By HOOfan 1 on 7/20/2012 11:21:15 AM , Rating: 2
He recognized that the bonus he made was earned not just by himself, but by the workers as well...good for him. Maybe other companies should take his lead and stop giving bonuses to CEOs of floundering companies and think about giving their workers more reason to stay on and invest their future in the company.

$300 is $300, not exactly chump change.


RE: Great writing
By bupkus on 7/20/2012 5:28:19 PM , Rating: 2
How sad that you were actually voted down. The WWII generation, often considered the "greatest generation" for what was accomplished in WW2 would have soundly agreed with you. They knew about working together and understood that sacrifice was needed to win against the threat of Fascism.

Of course now the current thinking in the USA is-- such thinking is leftist and ideologically perverse and against our "Founding Fathers".

Yes, welcome to the shit generation that is turning this country into shit. Me first and foremost and if you don't agree I'm going to get my minuteman musket and shoot you in your leftist left eye so you can see things my way!


RE: Great writing
By Belard on 7/20/2012 6:58:19 PM , Rating: 1
Wish you can vote after posting...

Yep... quite sad. They don't seem to understand what words mean. The USA became great by being a progressive country, to invent technology and industries. The freedom of expression, etc... things, they are dead set against and want to go back to the OLD days of cowboys and Indians, but without the Indians.


RE: Great writing
By MRjavinbur on 7/20/2012 11:18:53 PM , Rating: 2
From Every1 Who Has Been Given Much, Much Will Be Demanded & From The 1 Who Has Been Entrusted With Much, Much More Will Be Asked


"The whole principle [of censorship] is wrong. It's like demanding that grown men live on skim milk because the baby can't have steak." -- Robert Heinlein














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