Lenovo CEO doles $3 million of his bonus

Lenovo chief executive officer Yang Yuanqing gave away his $3 million bonus to about 10,000 of Lenovo's lower-paid workers. 


This included a variety of positions such as receptionists and cell center assistants as well as
 production-line employees on the floors of the factories where Lenovo laptops and desktop computers are built. Each worker will receive a bonus of about 2,000 yuan which is $314. While that amount may seem small to an American factory worker, the average salary for a production line working at Foxconn is about 1,500 to 2,200 yuan. This means production-line employees at Lenovo got a one month bonus direct from the head of the entire company


The bonus Yuanqing received here in the summer of 2012 was the result of the company having no less than its very best fiscal year of all time ending in March. Note – fiscal years, unlike a normal years, are started and ended differently for every company – some companies can be in Q2 while others are in Q4 and so forth. At the end of Lenovo’s fiscal year, again ending in March, they had a 73% bump in net profit compared to the fiscal year before.


As a result, Yang’s bonus was nudged upwards to the tune of $3m, but instead of putting the cash towards the usual CEO perks of a new yacht or a private island, he decided to share the wealth with the little people.


According to China.org, Yang decided to distribute the funds because he credits the "strength of the company's business performance to workers on the production line."