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Lenovo CEO to give $3.25 million of personal bonus away to employees

Lenovo CEO Yang Yuanqing to divide up $3.25 million bonus between 10,000 employees--or about $325 each.

@CharlesJGantt
Published Tue, Sep 3 2013 8:31 PM CDT   |   Updated Tue, Nov 3 2020 12:21 PM CST

Today, a new report from Bloomberg suggests that Lenovo CEO, Yang Yuanqing, plans on giving away $3.25 million of his bonus to 10,000 of the company's lowest paid workers. Workers in 20 countries will get the payments, including a facility in Mooresville, North Carolina, where Lenovo's US headquarters is located.

Lenovo CEO to give $3.25 million of personal bonus away to employees | TweakTown.com

The deal works out to about $325 per employee, which may not sound like much to the US crowd, but $325 is just about the equivalent of one month's pay for the company's workers in China where 85 percent of the company's employees are located. Yang says that he is giving away a significant portion of his annual bonus so that all employees understand the impact they have on making Lenovo the largest PC manufacturer in the world.

10,000 workers only work out to about a third of Lenovo's total employees, but Yang has decided to give the payouts to those who earn the least amount, are paid by the hour, or not eligible for commission or other bonuses that would increase their normal rate of pay. The $3.25 million will not affect Mr. Yang, though, as last year he earned 14.6 million and owns roughly 7 percent of the company's stock.

NEWS SOURCE:money.msn.com

A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

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