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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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By PresidentThomasJefferson on 7/22/2012 3:16:40 PM , Rating: 2
ya, it has happened in Cali.. remember Kingston Memory in Irvine, CA--it's the Asian culture of 'collective group good'.. the Asian/Chinese owners of Kingston Memory gave their huge $400 million bonus when Samsung bought them to every employee at Kingston
based on their years at the company, even secretaries there after a few years,etc got like $50,000 each & workers only w/1 year there got about $16,000+ bonus while others with longer yrs got even $100,000+ bonus.. .(it was about $16,000 per year at company)


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