Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees

#1

Post by sharkweek » Fri, Jul 20, 2012, 5:30 PM UTC

Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees
dailytech.com

Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees

#2

Post by mailarchis » Fri, Jul 20, 2012, 5:50 PM UTC

"Yang earned around $14 million last year alone, making $3 million pretty insignificant " - He distributed close to 21% of his annual earnings. That is significant

Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees

#3

Post by dsr_ » Fri, Jul 20, 2012, 5:51 PM UTC

That's nice.

I wonder what the tax consequences were.

Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees

#4

Post by uptown » Fri, Jul 20, 2012, 5:52 PM UTC

Equates to about $314, or a month's pay per employee by reported estimates.

Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees

#5

Post by prayag » Fri, Jul 20, 2012, 5:54 PM UTC

Wow! All the praises aside (which Mr. Yuanqing deserves), it's interesting to see because he has ensured the loyalty of his employees to himself and to the company. It's not just a good personal move but an awesome business move too.

Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees

#6

Post by rekwah » Fri, Jul 20, 2012, 5:58 PM UTC

Smart move.

I would presume that a gesture such as this buys him and Lenovo more than $3MM worth of good will/publicity. A nice counter to the "world dominating corporate overlord" impression most people have.

Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees

#7

Post by wtvanhest » Fri, Jul 20, 2012, 6:03 PM UTC

dsr_ wrote: post #3

That's nice. I wonder what the tax consequences were.

They should have been zero for him and an increase of $314 USD in revenue per employee.

Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees

#8

Post by sharkweek » Fri, Jul 20, 2012, 6:04 PM UTC

uptown wrote: post #4

Equates to about $314, or a month's pay per employee by reported estimates.

Definitely not bad -- I can also really appreciate an even split to all employees -- I know some might view it as unfair that someone who just started might get the same bonus as a long term employee, but for just a windfall, I think it was a good idea to keep it all even.

Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees

#9

Post by keithpeter » Fri, Jul 20, 2012, 6:05 PM UTC

uptown wrote: post #4

Equates to about $314, or a month's pay per employee by reported estimates.

I received the equivalent of a month's wages as a bonus when I met a certain set of criteria for my teaching. It was a nice pat on the back. This feels good.

Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees

#10

Post by vtry » Fri, Jul 20, 2012, 6:05 PM UTC

When will US based CEOs start giving their workers their 300 million+ bonus?