After helping Lenovo thrive in the wretched PC industry -- while also making it the number one Chinese smartphone maker -- CEO Yang Yuanqing earned a sizeable bonus. And like last year, he's sharing the wealth with front-line employees, giving $3.25 million of his $14.6 million salary to 10,000 workers in 20 countries. Lenovo grabbed a record $34 billion during its last fiscal year, along with an all-time high $653 million in profit. While the sum he shared may be small compared to that, it's almost a month's pay for the 85 percent who work in China. And we can't say we've seen too many CEOs stateside willing to part with their personal private jet fuel stash.
Filed under: Cellphones, Desktops, Laptops, Tablets, Lenovo
Source: Bloomberg
Sharp is already in full-on belt-tightening mode, and it's not just cutting jobs to keep its staffing costs in line with shrinking finances. The sinking tech giant is doubling the size of executives' salary cuts to 10 percent for a year-long period, all the while slashing planned 2013 bonuses to half of what they were in June. Sadly, everyday workers will have to take some of the same medicine. They're facing similar bonus cuts and will have to take a 7 percent drop in salary for the same year. Between these steps and cuts to extras like travel allowances, Sharp hopes to save ¥14 billion in the current fiscal year, or about $180 million -- a small amount next to the $2 billion in credit the company just recently obtained, but also a sign of just how much penny-pinching is involved in keeping the corporate ship afloat. Let's hope the sacrifice pays off.
Filed under: Displays, Home Entertainment, HD
Sharp further cuts bonuses and salaries to stay above water, save $180 million originally appeared on Engadget on Wed, 12 Sep 2012 01:15:00 EDT. Please see our terms for use of feeds.
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The list of CEOs and other execs in the US that have accepted multi-million dollar bonuses for lording over the crash and burn of a company (or even an entire economy) is staggering. And we can guarantee you that most of that money went towards fancy cars and golden toilet seats. Lenovo's Yang Yuanqing, on the other hand, received a sizable $3 million bonus for actually being good at his job. The additional bonus was a reward for steering the company to record shipments and profits despite a weakening PC market. And what did Mr. Yuanqing do with that money? He gave it back to his employees. That second bonus was broken down into 10,000 discrete chunks and dispersed to line workers, assistants and other lower-level employees. I think that officially makes Yang Yuanqing our new favorite CEO in tech.
Filed under: Misc. Gadgets
Lenovo CEO spreads the wealth, distributes his $3 million bonus to lower level employees originally appeared on Engadget on Fri, 20 Jul 2012 11:31:00 EDT. Please see our terms for use of feeds.
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Among the premature Google Play leaks this morning is a line about a purchase bonus, to ship alongside each Nexus 7 tablet. As a temporary incentive, Mountain View is offering customers a $25 credit to spend on Play store content, along with additional content, including a copy of Transformers: Dark of the Moon. We're just minutes away from the start of Google's I/O conference keynote, where we expect to hear full details about the tablet and bonus cash, along with a handful of other devices, such as the Nexus Q.
Google to hand over $25 Play credit with each Nexus 7 tablet purchase originally appeared on Engadget on Wed, 27 Jun 2012 12:15:00 EDT. Please see our terms for use of feeds.
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The great philosopher, Huey Lewis, once mused that it was "hip to be square." And it looks like he might have been right. The nifty geometrically-named payment widget is fast gaining popularity, no doubt thanks to its simplicity and accessibility. The system's had basic loyalty functions for a while, but now, users of its Pay with Square app can rack up loyalty points for repeat visits, or certain spend amounts. That means no more scratching around trying to find that bent up punch card, just pay up and -- literally -- reap the rewards. New customers can also now be lured in with the ability for retailers to add first visit specials. Merchants also get an upgrade, including real-time in-app analytics and the ability to give on the spot discounts. Great news, of course, though we wonder if it'll extend to a free ride home?
Square lets merchants offer first visit deals, reward regulars with digital punch cards (video) originally appeared on Engadget on Tue, 19 Jun 2012 11:33:00 EDT. Please see our terms for use of feeds.
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