Chairman of Sany received an annual salary of 1 yuan in 09 years, and all directors reduced their salaries by 90%

Changsha, January 16 (People's Daily Online) -- Xiang Wenbo, general manager of Sany Group, announced today that Liang Wengen, chairman of the group, only received an annual salary of 1 yuan in 2009, and all directors had their salaries cut by 90%, and the group's senior executives had their salaries cut by 50%, and for ordinary employees, the group promised to 'not lay off employees, not to reduce salaries, and not to accept employee salary reduction applications', and introduced a '100 billion special reward' policy to motivate employees.
In 2009, I only received an annual salary of $1. On January 14, at the board meeting of Sany Group, Liang Wengen solemnly submitted his application to the board of directors. After discussion by the board of directors, the company accepted Liang Wengen's application for an annual salary of only 1 yuan in 2009; Accept applications from all directors for 10% of their annual salary in 2009; Accept applications for a 50% salary reduction for senior executives. Liang Wengen said to the employees: "In this critical period of history, I hope to walk through it with my comrades. '
Since 2007, the world financial tsunami triggered by the subprime mortgage crisis in the United States has intensified, with international giants going bankrupt one after another, and well-known enterprises laying off significant employees. Liang Wengen said that as a member of the board of directors of Sany, he, Tang Xiuguo, Xiang Wenbo, Yi Xiaogang and other directors shoulder the responsibility for the survival of nearly 30,000 employees of Sany Group.
Previously, under the huge pressure of the external economic environment, Sany had solemnly promised its employees that it would not lay off employees or reduce salaries. The Board of Directors also approved the request for a voluntary salary reduction for senior executives at or above the assistant director level. The company said that the salary reduction of senior executives is based on the principle of personal voluntariness, and the company will still pay salaries to executives who have not submitted an application for salary reduction. The reporter also learned that the salary cut of senior executives has also set a threshold, in addition to the level of the assistant director (inclusive) and above who need to be formally appointed to accept the salary cut, the salary reduction shall not exceed 50%, and the number of years is only 2009. After seeing this, the company's ordinary cadres and employees also asked for a salary reduction, and there were more than 6,000 "salary reduction applications". Xiang Wenbo said: "Considering the actual situation of employees, the company does not accept voluntary salary reduction applications for cadres and ordinary employees below the ministerial level (inclusive) for the time being. '
On the basis of no layoffs and no salary cuts for ordinary employees, Sany Group still pays year-end bonuses to ordinary employees and senior executives this year, and the standard is 120% of the year-end bonus in 2005. In order to motivate employees to go through this difficult period with the company, Sany also announced that employees can choose to give up the year-end bonus appropriately, but return it at 10 times the amount in the future. Xiang Wenbo said that the reduced year-end bonus will be used as a development fund lent by employees to the company, and when the company achieves 100 billion, Sany will set up a '100 billion special award' to reward employees 10 times. Sany Group will send a letter of thanks to employees after the Spring Festival, which will be used as a proof of bonus when the company sells more than 100 billion yuan.
Xiang Wenbo calculated an account for the reporter: if the year-end bonus of an ordinary employee this year is 2,000 yuan, the '100 billion special award' he can enjoy is 2,000×10=20,000 yuan. If the employee is willing to give up receiving a year-end bonus of 500 yuan to fund the development of the company, the '100 billion special award' he can enjoy is 500×10 + 2000×10 = 25,000 yuan. It is preliminarily estimated that by Sany achieving sales of 100 billion yuan, the company will take out nearly 500 million yuan more to reward employees who have made special contributions to the company's development in the economic crisis. This does not include the reward for employees who voluntarily give up the year-end bonus.
In 2008, Sany achieved sales revenue of 20.9 billion yuan. Chairman Liang Wengen proposed that by 2012, Sany Group will achieve the goal of 100 billion yuan. (Wang Weijian, Cao Chang)

Source: People's Daily Online