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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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You cannot cast this in a bad light
By StuckMojo on 7/21/2012 12:04:56 AM , Rating: 3
Even if he did it solely for pr reasons...even though, once divided among all those employees it equates to a (relatively) small amount....what it likely meant to those workers is probably hard to quantify.

If he were to personally walk into each workers office and shake their hand and say their name and tell them that their execution of his plan is why it worked ( a much less measurable gesture ), it amounts to the same thing.

It's a guy at the top concretely showing that it's a team effort. Showing that he is cognizant of the fact that he could be a perfect leader and still fail if his team didn't execute.

That is immeasurable in their eyes.

On the flip side: the fact that his giant bonus works out to such a ( relatively) small amount per person shows ( at least in some way ) how that large bonus is calculated. His good desicions floated all boats a small bit higher, so he should get a good chunk of the reward.

And this is the first time I've ever been able to see that numerically.

This is of course assuming that everyone gets a raise next quarter because the whole company did better.




RE: You cannot cast this in a bad light
By StuckMojo on 7/21/2012 12:08:34 AM , Rating: 2
Im sure my comment will get lost in the shuffle. That's too bad because I really feel I made at least two good points, based on personal experience :(


By StuckMojo on 7/21/2012 12:10:51 AM , Rating: 2
Because that handshake and personal recognition would actually mean more to me than money. But of course I work I the us and don't live hand to mouth.


By macca007 on 7/21/2012 10:41:45 PM , Rating: 2
Sorry but I disagree, CEO walks in and shakes my hand and says thanks is complete bullshit,Doesn't mean anything to me.
Most companies will have the CEO every so often come down and do a presentation to the low end workers to say how good things are or how bad things are, That is their job nothing new here, If it's all good they say well done great team effort. If it's bad they say we need to pick our game up even though it usually is not the production side that lets down it's upstairs in marketing/sales or logistics!
They get their bonuses and we get a handshake? Some of us are breaking our backs literally coping with doing 2 peoples jobs at once and putting up with the stress, Get pushed to pump out more and more work. It all looks great on paper upstairs where they have no fkn clue what is happening down stairs, All they see is the work gets done so lets push some more,Yeah the work gets done at pruduction workers expense and they receive no extra benefits. Happens at a lot of places my workplace included. Handshakes don't pay the bills when you are on minimum wage. I will take the $300 thank you! $300 would give me 2 months worth of free petrol to get to work or or pay a bill.
What surprises me the most is that there are not that many workplace rampages/shootings YET,But I am sure as the greed gets worse they are bound to happen somewhere on the planet.
This CEO has done the right thing and should be applauded.
Look after your workers and they look after you and do that little bit extra and do a better job,less sick days,less workers leaving for better jobs etc etc
Old saying a happy worker is a productive worker,One way to keep them happy is more MONEEEEY! ;)


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