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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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Might not seem like much
By 4745454b on 7/20/2012 10:17:39 AM , Rating: 5
But I still think this is rather good. Could have kept it, blew it on a weekend, etc. But its nice to hear that the "little guy" managed to get something extra. For once. Even if this was planned and all a marketing ploy its nice to hear that some people who really work for their money got a little extra.




RE: Might not seem like much
By jabber on 7/20/2012 10:26:54 AM , Rating: 5
Yes it's not about the amount, its the gesture that's important.

The guy could have kept it but just passed it back to the lesser paid staff.

$300 is a good night out!


RE: Might not seem like much
By amanojaku on 7/20/2012 10:48:13 AM , Rating: 5
The gesture is what is truly important, but the amount is important, as well. As I understand it, 2000 yuan ($313 USD) is about a month's salary for many of those workers.


RE: Might not seem like much
By MrBlastman on 7/20/2012 11:02:35 AM , Rating: 5
I tip my hat to him. This is an excellent display of good judgement and respect to those who deserve it. He obviously knows where his success comes from and appreciates it.

Always respect the line employees. Without them, you have no foundation along with... no company.


RE: Might not seem like much
By Belard on 7/20/2012 4:46:31 PM , Rating: 4
Makes me like Lenovo more and more...

They do make good stuff. Their ThinkPads are still the best notebooks you can get.


RE: Might not seem like much
By Indigo64 on 7/20/2012 6:30:29 PM , Rating: 3
Definitely.

Ted Waitt did something similar with Gateway when I was working there - he spread his bonus at the time out to the employees working the front lines and support. At the time, and given how much I was making then, it was another week's pay on top of my regular check.

Stand up guy he was - he tried to do the right thing.


By PresidentThomasJefferson on 7/22/2012 3:06:31 PM , Rating: 2
Ya, in China, prices are about 1/3 to 1/10th that of the US so
$314 in China could buy what would cost $3,140 here in the US.


By StevoLincolnite on 7/20/2012 10:53:13 AM , Rating: 5
Notch (The creator of Minecraft) did a similar thing a few months back where he gave his dividend of around $3 million to his employee's.
The bonus part is, Mojang is a very small company of about 25 employee's so the amount is fairly large.

IF only all our bosses were so kind. :P


RE: Might not seem like much
By menting on 7/20/2012 11:30:28 AM , Rating: 5
kudos to Lenovo's CEO. That gesture will bring about a happier workplace, which has intangible benefits of more than USD $3 million most likely.

In contrast, our company cut out the hot chocolate a few years ago (never came back either), citing a 90k/yr cost with it, while the CEO kept millions in stock grants and bonuses. I mentioned to colleagues then that the CEO will make a lot of people happy by using 90k of his multi-million bonus to bring back that hot chocolate. But of course it didn't happen. Oh yeah, they took away the free boxes of tissue paper too.


By Shadowmaster625 on 7/24/2012 9:34:21 AM , Rating: 2
90k for frickin hot chocolate? That must have been some damn hot chocolate.


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