Lenovo CEO Gives His $3M Bonus To 10k Workers

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Lenovo CEO Gives His $3M Bonus To 10k Workers

Posted by Soulskill on Friday July 20, 2012 @08:09AM from the what's-the-opposite-of-a-golden-parachute dept.

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."

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Re:Bloody communists! by DinDaddy · 2012-07-20 08:19 · Score: 5, Insightful

JAL CEO did something similar and took a paycut as well. Cold day in hell before any american CEO would do this. Even if one were willing, the others would kill him in the country club locker room and bury his body on the links.
Holy Crap! by NeutronCowboy · 2012-07-20 08:19 · Score: 5, Insightful

That guy just earned himself some serious loyalty from the peons. Nothing says "I couldn't have done this without you" like sending a serious bonus down to everybody. The execs won't care, as that won't cover a day of their salary, but the people at the bottom of the ladder will appreciate it. Interesting that that came from a Chinese owner. I'd be curious to see what American CEOs think of that, and what their response would be to the question "Would you ever give you entire yearly bonus to your employees, and why?"

--
Those who can, do. Those who can't, sue.
And the bad news is... by stanlyb · 2012-07-20 08:23 · Score: 5, Insightful

I am on crossroad, from one hand we have:
1.CEO receiving $3mln bonus, not salary but bonus. On another hand we have:
2.Regular Joe's medium monthly salary of "$300"....
---------------
So i wonder which one is worst, a company with so low medium salary, or a company with so much big CEO salary....
PLEASE, help me decide...
Re:Bloody communists! by Anonymous Coward · 2012-07-20 08:25 · Score: 5, Insightful

except their fringe benefits and perks might amount to six figures, and stock options give them a net in the millions most of the time. It might be a nice show of generosity, but it's also a nice way to have some PR and tax breaks for the uber rich.
Re:Bloody communists! by randizzle3000 · 2012-07-20 08:25 · Score: 5, Insightful

I think that's so they can skip paying income tax, not because of generosity.
Re:Bloody communists! by SScorpio · 2012-07-20 08:27 · Score: 5, Insightful

While they have a $1/yr salary. They still have stock options and other benefits that make up the difference. This is a tax dodge and not a show of generosity.
Re:I would high-five this guy. by Anonymous Coward · 2012-07-20 08:30 · Score: 5, Insightful

Yeah, this guy sounds like a pretty good guy. Except, of course, that his bonus is equal to what about 10,000 employees make in a month. Doesn't really make his company seem that great. I'm not saying it's not common, but it a good example of how messed up the system is. Do you really think that guy benefited the company, over what he was already making in a year, more than what 833 people do in a whole year?