DailyDirt: Giving Back To Employees
from the urls-we-dig-up dept
Income inequality is a topic that has been circulating recently (partially from Robert Reich's movie "Inequality for All"), and as stats about income growth/stagnation are thrown around, there have been a few examples of corporate leaders trying to recognize their employees' hard work. Here are just some of the rare CEOs/founders who have taken a small stab at wealth redistribution from their own personal pockets.- Lenovo's CEO Yang Yuanqing has distributed $3.25 million (of his own $4.23 million bonus) to thousands of hourly workers -- roughly giving them $335 per person. This is the second year in a row that Yang has done this, and it's slightly more than last year's bonus. It's a nice gesture, but how long will it continue? [url]
- The family-run firm Nominit in Sweden is paying out about $16.3 million (114 million kronor) to current and former employees -- because the company's two founders and owners have no heirs. The company manufactures rivets, and its ownership will be transferred to a foundation dedicated to the well-being of former and current employees. [url]
- Next CEO Simon Wolfson shared all of his $3.6 million cash bonus with employees, and he's the first CEO in the UK to make such a generous gift to employees of a public company. CEOs sometimes donate their bonuses to charity, but distributing money back to employees (of public companies) hasn't caught on the UK (or the US). [url]
Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
Filed Under: bonus, ceo, charity, generosity, inequality, management, robert reich, wealth distribution
Reader Comments
Subscribe: RSS
View by: Time | Thread
But good luck convincing the socialist pawns that this does not work at a societal level.
[ link to this | view in chronology ]
Re:
I do see that this does not work at a societal level.
Want to recognise the hard work of employees? Pay them a wage they can actually live on.
[ link to this | view in chronology ]
Re: Re:
Sacrilege ... blasphemy !!!
Repent or wrath of the almighty money gods will smite thee
[ link to this | view in chronology ]
Re: Re:
[ link to this | view in chronology ]
if only
[ link to this | view in chronology ]
[ link to this | view in chronology ]