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

Posted by Soulskill on 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."

4 of 267 comments (clear)

  1. An even more generous example by G3ckoG33k · · Score: 5, Interesting

    http://www.thelocal.se/41536/20120619/

    Family-run firm Nominit in Värnamo, southern Sweden, will be paying out 114 million kronor ($16.3 million) to their current and former employees in a gesture of goodwill. The company was founded in 1937 and is the two founders and owners have no heirs to their fortune. The company, which currently has about 50 employees, manufactures rivets and has a turnover of about 100 million kronor, of which 60 comes from export.

    $16,000,000 to 50 workers.

  2. Something similar where I grew up... by The+Good+Reverend · · Score: 5, Interesting

    Kingston technology (memory manufacturer) split $100 million between 500+ employees. They also gave scholarships to all the local schools (mine included) - http://articles.latimes.com/1996-12-15/news/mn-9424_1_million-bonus-employee

  3. In theory... it *is* a bit like *communism* by F69631 · · Score: 5, Interesting

    Many Americans don't seem to know (or perhaps care about) distinctions between communism (the form of utopia which countries like the Soviet Union supposedly wanted to achieve) and socialism (the system they intended to use in the transitional phase). Oversimplifying a bit... Communism is supposed to be a state where there is such an abundance of resources that everyone can get whatever they need and the motive to work would come not from material goods but from the social status that good workers receive, the idealistic desire to work for the good of mankind and stuff like that. Socialism is the idea that when a government takes control of the means of production and puts them to good use, the results are in some way (be it productivity, philosphical differences or whatever) better than than what capitalistic society can achieve... and if the difference in productivity is great enough, it could some day result in the overabundance of resources needed for communism.

    So... When a CEO decides that he wants to give away huge sums of money (for social status and/or idealistic reasons... in a situation where he must have overabundance of resources for himself, because he is able to give away millions) and that the best receiver for the money are the workers that have produced the said wealth, I think that one could argue that it's - in small scale - very similar to how communist utopia was supposed to work.

    Naturally this is all just a mixture of being pedantic and some form of thought experiments... but then again, what could you expect in a thread like this.

  4. No, actually it means by publiclurker · · Score: 5, Interesting

    that the CEO has to do something to cause a quick spike in the stock price when he wants to cash in. Generally, this is done by firing a bunch of people. It doesn't matter if this tanks the company, as the CEO's already gotten his cash.