Don’t You Wish He is Your Boss? Lenovo CEO Shares $3 M Bonus to 10,000 Employees on Labour Day 2013 (VIDEOS)
By Vittorio Hernandez | September 3, 2013 4:29 PM EST
It was like Christmas in September for 10,000 workers of Chinese technology giant Lenovo over the weekend as they received about $325 each because their boss, Chief Executive Officer Yang Yuanqing, distributed his $3 million bonus to his employees.
It is his way of observing Labour Day. Mr Yang had shown his generosity for the second year in a row, Bloomberg News reports. But it is not just the China-based staff who would enjoy the windfall, but all Lenovo employees in 20 countries.
About 85 per cent of Lenovo's workers are based in China where the average salary is about $325. It would be like the yearend bonus made in many countries where the equivalent of one month's pay is given to employees for them to have extra cash to celebrate the yearend holidays and start with incoming year with enough funds.
One reason why the Lenovo CEO has been very generous the past two years is that the tech giant took the crown from Hewlett-Packard as the world's number one supplier of personal computers in the second quarter of 2013, accounting for 16.7 per cent of the Q2 PC sales while that of HP went down to 16.4 per cent.
Two other CEOs have also been generous to their workers recently. Lord Wolfson, CEO of the UK retailer Next gave 100 per cent of his yearly bonus in April of $3.6 million to his employees. In 2012, another tech CEO, Markus Persson, also distributed hs $3 million bonus to his staff.
These bosses from heaven could actually afford to be extra generous once a year since CEO pay gap with workers continues to widen with the average ratio of CEO-to-worker pay hitting 204 in 2012, up 20 per cent from the 2009 level and 1,000 per cent from 1950.
So, would you rather work for Lenovo or Next and get a one-month extra bonus whenever the CEO feels generous or one day be the CEO yourself and enjoy the big pay gap every month?
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