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 cannot cast this in a bad light
7/21/2012 10:41:45 PM
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! ;)
"People Don't Respect Confidentiality in This Industry" -- Sony Computer Entertainment of America President and CEO Jack Tretton
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