Lenovo CEO Gives His $3 Million USD Bonus to 10,000 Employees
July 20, 2012 9:43 AM
comment(s) - last by
(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.
This article is over a month old, voting and posting comments is disabled
RE: Awesome gesture, wish more in US would emulate.
7/21/2012 3:07:14 PM
LOL wow the conservatard actually thinks he's sensible.
The majority of media in this country
big business; hardly anti-business. If you think this kind of gesture happens a lot in the west, then research and present some facts and figures not just unsubstantiated, make-believe you might want to be true.
"We shipped it on Saturday. Then on Sunday, we rested." -- Steve Jobs on the iPad launch
Lenovo Mobile Access No-Contract Broadband Launches for ThinkPad Models
June 11, 2012, 9:04 AM
Finished Apple Watch Expected to be Showcased at"Spring Forward" Mar. 9 Event
February 26, 2015, 12:17 PM
Google Preps Pixel 2 ChromeBook, New X Server Replacement "Freon"
February 24, 2015, 11:12 PM
Report: Samsung Semiconductor Bounces Back w/ iPhone SoC and Memory Orders
February 24, 2015, 1:40 PM
Comcast Borrows Apple's Branding Flourishes for Its Remotes
February 24, 2015, 11:32 AM
NVIDIA Bows to Outraged Overclockers, Will Restore Feature in Upcoming Driver
February 23, 2015, 12:30 PM
BlackBerry Wages Legal War Against Ryan Seacrest's Typo 2 iPhone Keyboard
February 18, 2015, 5:24 PM
Most Popular Articles
Outbreak of Deadly Superbug at Californian Hospital Kills 2
February 20, 2015, 2:11 AM
Modern Glass (Windows 7 Aero Glass + Modern UI) Style is Coming to Windows 10
February 19, 2015, 1:05 PM
EDITORIAL: Board Wants to Anoint America World Police w/ Global Warrant Power
February 20, 2015, 9:10 AM
Quick Note: Microsoft Gives Dropbox Users Extra 100 GB of Free OneDrive Storage
February 20, 2015, 9:48 AM
DARPA Awards Boeing Contract to Test Jet Based Satellite Launches
February 19, 2015, 11:30 AM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information