CEO Donates His $3.6 Million Bonus To Employees

[UrbScotty]

The CEO of British retailer Next decided to donate his multi-million dollar bonus back to employees.

Lord Wolfson's bonus was £2.4 million, or about 3.6 million U.S. dollars, Telegraph UK reports.

Employees who have been with the retailer since June 2010 or longer will get 1% of their salary. That means that the average clerk, who makes about $30,000, would get $300.

Wolfson called the act "a gesture of thanks and appreciation from the company for the hard work and commitment you have given to Next over the past three years and through some very tough times," the Telegraph reported.

http://www.businessinsider.com/ceo-donates-his-bonus-to-employees-2013-4#ixzz2QfYwxuQR

I figure we could use some good news right about now.

[shenmue]

1. Wow!

Huzzah!

[Spitfire of ATJ]

2. When they first tried to sell "trickle down" they claimed bosses would give pay raises.

[Glimmer of Hope]

3. I can't imagine the millionaires I work for being that generous to me. I would die!

[JBoy]

4. But how's he going to create jobs without a fat bank account?

Seriously though, that's quite a gesture. Literally "putting his money where his mouth is".

[Liberal_in_LA]

5. k&r

[midnight]

6. Now that is how it's done.....

[JDPriestly]

7. Good news. His employees will show their gratitude and it will be good for the company.

That's my prediction.

[7wo7rees]

8. I have millionaire owners, and...

When an employee died tragically last Sunday night, they marshaled grief counselors, and when confronted with a Saturday burial, moved the annual golf outing to a date to be determined in the future. Very human.