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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. 

Source: Bloomberg



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It pays in the long run as well
By max_payne on 9/2/2013 11:03:23 PM , Rating: 2
Nice gesture but that's a good investment in the company too. The workers which are rewarded by their good work will probably continue it or better themselves since the bonus may be bigger next time. That is if they don't change CEO, like hiring an American.




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