updated 12:55 pm EDT, Mon September 2, 2013
Bonus worth month's pay for factory workers
Lenovo CEO Yang Yuanqing reportedly plans to share more than $3 million of his personal bonus among approximately 10,000 lower workers, according to a Bloomberg report. Although a $325 bonus may not seem particularly significant by Western standards, it is said to equal nearly an entire month's pay for a city worker in China.
"[Yuanqing] believes that he has the responsibility as an owner of the company, and the opportunity as our leader, to ensure all of our employees understand the impact they have on building Lenovo," human resources senior vice president Gina Qiao reportedly said in a note circulated to workers.
The move comes just weeks after the company posted record performance for the second quarter of the year, increasing revenue and profits as the overall PC market continues to decline. Yuanqing made a similar contribution to his workers last year, taking $3 million out of his overall income of approximately $14.6 million.
Lenovo currently employs more than 35,000 staff throughout the world, though 85 percent of the bonuses will be directed to workers in China.