Lenovo CEO Gives His $3 Million USD Bonus to 10,000 Employees
July 20, 2012 9:43 AM
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(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
plans for its mobile computers.
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RE: You have to respect Lenovo
7/20/2012 10:57:24 AM
I've built my own computers since the 286 days, but after working with Lenovo products at a former job for a couple of years, I couldn't pass up a smoking deal on an i7-2600 system. I bought it well over a year ago for $1000. i7-2600, 2TB HDD, 12GB RAM, GTX460 1GB ... and it's still rock solid.
RE: You have to respect Lenovo
7/20/2012 11:42:30 AM
Yup. And I bet if you sat on it for 10 years and never upgraded you would still be using it without a failure (other than maybe hard drive which could happen to any OEM)
"We basically took a look at this situation and said, this is bullshit." -- Newegg Chief Legal Officer Lee Cheng's take on patent troll Soverain
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