Daily Archives: September 3, 2013

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It may be Labor Day in America but Chinese CEO Yang Yuanqing shares $3.25 million bonus with employees

It may be Labor Day in America but Chinese CEO Yang Yuanqing shares $3.25 million bonus with employees

It may be Labor Day in America, but a Chinese CEO is getting into the true spirit of the holiday by celebrating his workers in a big way.

For the second consecutive year, Lenovo CEO Yang Yuanqing plans to give away at least $3 million of his bonus to roughly 10,000 of his company’s workers, Bloomberg News reports. Employees across 20 countries will take part in Yuanqing’s wealth with 85 percent of payout recipients working in China.

The average payout per worker of $325 is nearly equivalent to a month’s pay for an employee in China.

A company spokesperson told Bloomberg that a majority of the workers who will receive part of the bonus will be hourly employees who are not eligible for other bonus programs.