Lenovo CEO Donates $3 Million Bonus To 10000 Employees in China

[Patriot]

The list of CEOs and other execs in the US that have accepted multi-million dollar bonuses for lording over the crash and burn of a company (or even an entire economy) is staggering. And we can guarantee you that most of that money went towards fancy cars and golden toilet seats. Lenovo's Yang Yuanqing, on the other hand, received a sizable $3 million bonus for actually being good at his job. The additional bonus was a reward for steering the company to record shipments and profits despite a weakening PC market. And what did Mr. Yuanqing do with that money? He gave it back to his employees. That second bonus was broken down into 10,000 discrete chunks and dispersed to line workers, assistants and other lower-level employees. I think that officially makes Yang Yuanqing our new favorite CEO in tech.

Lenovo CEO spreads the wealth, distributes his $3 million bonus to lower level employees -- Engadget
Yang Yuanqing, Lenovo CEO, Donates $3 Million Bonus To 10,000 Employees In China

 

[shuttler]

Excellent! Credit to all the staff for Lenovo's success!

 

[SQ8]

^^^ I didn't understand why my message was deleted??

My goodness .... !!!!

I just said if it for all staff or only "employees in china" (the first and second posts suggest different things) !!!!

What's in this message, that it is deemed to be deteted (... I see I can't even write PM to Oscar for whatever reasons).

Really.. did it get deleted by mistake????

Avoid bringing in India for whatever reason.. Its not needed

 

[Boson]

I disagree, though ... !

In anycase, it's a local chinese affair then, not a world affair.

 

[United]

I disagree, though ... !

In anycase, it's a local chinese affair then, not a world affair.

it says Lenovo many of our pdf members might be using lenovo all most all of the IBM products are made by lenovo

indians will burn on every thing.

 

[Korean]

$3 million distributed among 10K; that's like $300 per employee? I forgot, that's like a monthly wage in China and is a significant sum in China.

 

[+4vsgorillas-Apebane]

$3 million distributed among 10K; that's like $300 per employee? I forgot, that's like a monthly wage in China and is a significant sum in China.

And you Koreans are so wealthy? Your brothers and sisters up north suffer from chronic starvation and often have to eat blended corn stalks. $300 is a significant sum for koreans as well.

 

[Götterdämmerung]

It's not only the money, it's the gesture that is important. I bet most employees in the world would be happy to get an extra 300 bucks from his/her boss for no extra work no matter how much the monthly salary is.

 

[Cloakedvessel]

Creditsafe finance firm boss Cato Syversen treats 500 staff to free Majorca holiday | Metro.co.uk

or

Extremely Generous Boss Gives Employees $7500 for Vacations

How is that for a boss?

 

[forcetrip]

It's not only the money, it's the gesture that is important. I bet most employees in the world would be happy to get an extra 300 bucks from his/her boss for no extra work no matter how much the monthly salary is.

It was a symbolic gesture which cannot be broken down in monetary value. They earned it for their boss and he made it abundantly clear to them.

 

[KRAIT]

I once heard a Japanese senior executive cut down his salary, his expenses, started using train for travelling rather than on his car and many things so that he can save money of the company to avoid firing his employees.

Great gesture by the CEO.....no wonder why Lenovo is getting its strong foot hold every where if you have people like these running the company.

 

[Götterdämmerung]

Creditsafe finance firm boss Cato Syversen treats 500 staff to free Majorca holiday | Metro.co.uk

or

Extremely Generous Boss Gives Employees $7500 for Vacations

How is that for a boss?

Just last month, the company of my friend celebrated its 15th anniversary and he invited all his staff (almost 90 people) for a long weekend to Mallorca with a huge party on a yacht. They do this every 5 years.

 

[Zeeshan360]

$3 million distributed among 10K; that's like $300 per employee? I forgot, that's like a monthly wage in China and is a significant sum in China.

Money isn't important
The gesture by the CEO is very important

He proves why we Asians still have ethics , humanity left in us which the western workd has completely lost

 

[KRAIT]

Money isn't important
The gesture by the CEO is very important

He proves why we Asians still have ethics , humanity left in us which the western workd has completely lost

But honesty and professionalism in West is better than Asian countries.

 

[UnChosen]

Pretty amazing considering here in Canada (and probably in the US too) business classes in universities are literally teaching students that bonuses will ruin companies because workers would end up expecting it, or how if you don't pay bonuses after the first time workers will "lose morale" and be "less efficient"...and crap like that...personal experience btw.

This from a professor that was a retired CFO (or some other high level position that I can't remember) who accepted plenty of bonuses in his days...

What else? Money is "bad incentives" but recognition and "more freedom in responsibility" is great incentives...so the reward for hard worker is a pat on the head and more work in managing more stuff.