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Lenovo CEO Gives His $3M Bonus To 10k Workers
ndogg writes "Lenovo CEO Yang Yuanqing has decided to give his $3,000,000USD bonus to his workers instead of keeping it. Those 10,000 employees include receptionists, production line workers, and assistants. That works out to about 2,000 yuan or $300 per employee, which is about a month's worth of salary."
I agree that context is important when considering the impact. However, I have to say that if my manager or my CEO distributed their bonus out to all the people underneath them, my respect for them would go up tremendously - even if it would amount to only an extra beer at pub night for me. The important part is that they were willing to forego something that their contract said they were entitled to, and instead chose it to say thank you to their employees in a very direct manner.
Those who can, do. Those who can't, sue.
They have a $1 salary because salary is taxed at the higher rate reserved for the lower class. The CEO's get all their compensation in the form of stock options, and that is taxed at the lower rate reserved for the gentry and with a good enough accountant and a multinational organization capable of shifting money about, it may not be taxed at all.
I would suggest you compare the CEO wages in the U.S. with CEO wages in the east, Japan especially.
IIRC, the average is that CEO wage is 24x the wage of your lower worker. In the U.S. it is in the hundreds of times.
The difference in the east and the U.S.: the CEO is considered important but not necessarily above the other workers. In the U.S. they are in an ivory tower. That's a problem and that's what so much of us have a problem with.