Monday, July 23, 2012

Corporate CEO Donates His $3 Million Bonus To Company’s Lower-Paid Workers

   Another good reason for this blogger to continue buying Lenovo laptops.

By Travis Waldron on Jul 23, 2012 at

Yang Yuanqing, the chief executive of computer distributing company Lenovo, has decided to distribute his $3 million bonus to 10,000 of his company’s lower-paid workers, many of whom are manufacturers in the company’s Chinese plants. Each worker will receive about $317 worth of the bonus, an amount that roughly equals the average monthly salary of Chinese factory workers. Yang, who made $14 million last year, made the decision because the “strength of the company’s business performance to workers on the production line,” according to news reports. In the United States, CEO pay has risen 127 times faster than worker pay over the last three decades, and even as CEOs rake in massive bonuses, they continue to extract benefits from the workers they employ.