Lenovo Chief Yang Shares Bonus With Workers For Second Year
A pool of 10,000 workers will get payments this month to recognize their contributions Gina Qiao, senior vice president of Human Resources, said in a memo to some workers. The memo was confirmed by spokesman Jeffrey Shafer, who said the total payment is about $3.25 million.
Lenovo posted revenue of $34 billion and PC shipments of 52.4 million units in the 12 months ended March 31 as the company gained market share and expanded sales of mobile devices such as smartphones and tablets. The 48-year-old Yang, who gave $3 million from his bonus a year earlier, led the company to take the top spot in the June quarter as it overtook Hewlett-Packard Co. (HPQ)
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Yang’s award will be made to Lenovo staff in 20 countries, while about 85 percent of recipients are in China, Shafer said.
The average payment of about $325 is almost equal to a month’s pay for a typical city worker in China. The average annual wage of urban workers at private companies last year was 28,752 yuan, the National Bureau of Statistics said in May. That’s equal to about $392 a month.
http://www.bloomberg.com/news/2013-09-01/lenovo-chief-yang-shares-bonus-with-workers-for-second-year.html
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