Lenovo CEO Shares Bonus with Workers for a Second Year
September 2, 2013 11:16 AM
comment(s) - last by
Payouts will be about $325 per worker
Computer maker Lenovo has reported that its CEO Yang Yuanqing plans to share at least $3 million of his bonus with workers for the second straight year. Lenovo
posted record sales for the year
and the company’s CEO plans to spread his bonus amongst 10,000 workers with payment amounts going to recognize worker contributions.
Lenovo spokesperson Jeffrey Shafer said that the total amount the CEO paid out would be about $3.25 million, up from
$3 million last year
“This is quite rare, especially for a chairman of a Chinese company, to use his personal money as a bonus to reward employees,” said Kirk Yang, a managing director at Barclays Plc in Hong Kong.
Lenovo CEO Yang Yuanqing
The shared wealth will be handed out to Lenovo staff in 20 countries with about 85% of those receiving money located in China. The average payment to individual workers at Lenovo will be around $325. While that may not sound like a lot of money, it is equal to about one month's pay for the typical city worker in China.
Lenovo currently has more than 35,000 employees around the world as of the end of March.
This article is over a month old, voting and posting comments is disabled
RE: Good to hear!
9/2/2013 4:47:40 PM
I agree, and it's amazing how little it takes to really endear your employees to you. I have a small business, and a dozen or so employees, and every the Christmas party is paid for by me personally, as do other occasional outings.
They're the ones who are truly critical to running my business, and I know it, so I take care of them. If only other CEO's realized it.
"I mean, if you wanna break down someone's door, why don't you start with AT&T, for God sakes? They make your amazing phone unusable as a phone!" -- Jon Stewart on Apple and the iPhone
PC Shipments Fall Nearly 11 Percent in Q2 2013; Lenovo Beats HP as Top Vendor
July 11, 2013, 10:58 AM
Lenovo CEO Gives His $3 Million USD Bonus to 10,000 Employees
July 20, 2012, 9:43 AM
IBM Workers Strike Over Terms of Deal That Will Have Them Working for Lenovo
March 6, 2014, 9:29 AM
Google Picking Up Artificial Intelligence Company "DeepMind" for $400 Million
January 27, 2014, 9:25 AM
Quick Note: Qualcomm Grabs up Palm, IPAQ, and Bitfone Patent Portfolio from HP
January 24, 2014, 9:18 AM
Verizon Buys Intel Media OnCue Cloud TV assets
January 21, 2014, 10:26 AM
Google's First Asian Data Centers Now Operational
December 11, 2013, 8:50 AM
IBM to Offer Watson Supercomputer as Cloud Development Platform
November 14, 2013, 12:00 PM
Most Popular Articles
Malaysian Airlines Flight 370 Made Wild Altitude Changes
March 14, 2014, 9:21 PM
Tesla Motors Calls New Jersey Out on New Rule Against Its Direct Sales Model
March 11, 2014, 12:01 PM
Hack Reveals Fallen Bitcoin CEO's Posh Tokyo Penthouse
March 10, 2014, 4:28 PM
Apple Authorized to Seek $40 Per Device Against Samsung
March 13, 2014, 4:31 PM
Man Who Shot Father for Texting During Movie Previews Was Also Texting
March 14, 2014, 2:25 PM
Latest Blog Posts
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
Is The Period Becoming an Expression of Anger?
Nov 26, 2013, 2:02 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information