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Lenovo CEO is set to split bonus with workers

For the second year running, Lenovo's CEO is going to share his $3M bonus with 10,000 workers

 

 

For the second year in a row. Lenovo, a leading computer manufacturer has said that CEO Yang Yuanqing is going to share $3M of his bonus with the companies workers. The bonus looks set to be shared among 10,000 staff throughout 20 countries, the majority of which are located within China itself (85%).

“This is quite rare, especially for a chairman of a Chinese company, to use his personal money as a bonus to reward employees,” said Kirk Yang, a managing director at Barclays Plc in Hong Kong who rates the shares overweight.

The bonus once split will likely be equal to around a split of around $300 per person and whilst that may not sound like much, for the majority of the workers it will certainly be a welcome boon to their paypacket. Lenovo spokesperson Angela Lee said "Most are hourly manufacturing workers," Lee said. "As you can imagine, an extra $300 in a manufacturing environment in China does make an impact, especially to employees supporting families."

Lenovo have reported revenue of $34B and pc shipments of over 52 Million units in the 12 months ending March 31st, the company has gained market share surpassing HP in global shipments during Q2 of 2013.