CEO Donates His $3.6 Million Bonus to Employees

[Hum]

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.

Next, a clothing and department store company, dealt with declining sales over the past several years as consumers reigned in spending.

But Wolfson was able to execute a turnaround, and today the store is doing great.

Perhaps his gesture will inspire other high-powered CEOs to do the same.

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[siah1214]

Even though it's only $300 that's still pretty decent. I'm glad some CEOs don't care only about making money palaces.

[Stoffel]

It's a nice gesture, wish more CEO's would do this

It would definitely make the employees more loyal and hard working.

[Growled Member]

I bet a lot of Next employees are a little happier about their jobs today. I know I would be.

[AngelGraves13]

Made it to the news. People will respect this guy more, not to mention probably go shop there in a bit.

He's either an evil genius or a nice guy.

[FloatingFatMan]

This is the right way to inspire your staff and get them to work their best for you, by showing them your appreciation.