Huffpost Business

Yang Yuanqing, Lenovo CEO, Donates $3 Million Bonus To 10,000 Employees In China

Posted: Updated:
Yang Yuanqing, CEO of Lenovo, donated $3 million of his bonus to 10,000 employees in China.
Yang Yuanqing, CEO of Lenovo, donated $3 million of his bonus to 10,000 employees in China.

Chances are about 10,000 workers at Lenovo are smiling a little more today, after the tech company's CEO, Yang Yuanqing, took $3 million of his bonus and distributed among his staff.

"Among the employees to receive a piece of the pie were receptionists, production line workers, and assistants," DailyTech reported, adding that each worker received a bonus totaling about $314.

That figure might not seem like too big a deal to workers in the United States, but in China, it's more than a month's salary for some. According to PC World, the minimum wage in China's Shenzhen province is only about $253 a month.

In February, Apple supplier Foxconn Technology, whose factories in Shenzhen and Chengdu were the center of controversy earlier this year, announced a wage increase of 16 to 25 percent for its workers, although it was already paying its workers more than the mandated minimum.

Lenovo, which makes personal computing and information technology products, is having a record breaking year. According to a company press release, it posted a 73 percent bump in net profit over last year.

Yang's $3 million donation, it should be noted, is only part of the CEO's bonus. CNN reported that Yang earned $5.2 million in bonuses for the fiscal year ending in March, and had a net personal income of $14 million.

(via Reddit)

Also on HuffPost:

Most Outrageous Facts About Foxconn iPad Factories
of
Share
Tweet
Advertisement
Share this
close
Current Slide

Suggest a correction