After giving out $3 million to Lenovo employees last year, CEO Yang Yuanqing has increased his giving efforts to his subordinates this year by giving $250,000 more than last year.
It was reported by Bloomberg that Yang will give $3.25 million to 10,000 workers of the
biggest PC maker out of his $14.6 million earning for the year. This is equal
to $325 for each worker.
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| Yang Yuanqing. Image: The Verge |
“This payment
is personally funded by Yuanqing,” senior vice-president of human resources,
Gina Qiao said in a memo to workers.
“He believes
that he has the responsibility as an owner of the company, and the opportunity
as our leader, to ensure all our employees understand the impact they have on building
Lenovo.”
This may look
like peanuts to the rich but it is almost equal to a month salary of average
workers in China where 85% of the staff population is based. The National
Bureau of Statistics revealed in May that the salary of an average urban worker
at a private company in China is $392.
Lenovo has
been in fine form this year after it posted $34 billion in revenues and shipment of
52.4 million units of Personal Computers (PC) in the year ended 31st March. As
a result of the impressive performance, the company realized a profit of $653
million over the year.
Lenovo
overtook Hewlett-Packard Co. in the second quarter of this year to become the biggest
PC maker in the world. The Chinese company is not doing badly in the smartphone
and tab market either; it was the highest smartphone vendor on android OS in
the second quarter after Samsung and LG.
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Lenovo CEO gives $3.25m of his bonus to employees