A Chinese company sparked controversy by piling up 61 million yuan (around $9 million) in banknotes on a stage and giving it to employees as year-end bonuses. According to a Chinese news portal, the South China Morning Post, the managers of Henan Mine (a crane manufacturer) stacked the notes on stage and then distributed it among the employees in turns. A video showed piles of money, two meters tall, at the company’s annual party.
Reportedly, the three top sales managers from Henan Mine received the top award of 5 million yuan (around $737,000) each, according to an unnamed manager from the company’s PR department. In comparison, over 30 other employees received at least one million yuan.
More than 30 other employees received 1 million yuan each, with a total of 40 employees receiving money from the company. The program also included a cash counting competition where the employees’ family members were rewarded for counting the notes within a designated time. The company spent 12 million yuan on this competition, awarding 157,000 yuan to the fastest note counter.
It was reported that even during the Covid era, Henan Mine saw a 23 per cent increase in profits this fiscal year. Founded in 2002, the company employs over 5,000 employees and has not seen any layoffs for the past three years. The average salary of the company’s employees has also increased by 30 per cent annually.
Videos widely shared online show the money packaged into 100,000 yuan blocks. The footage shows men in black suits and red scarves carrying large stacks of cash from the stage. The largest awards required multiple people to carry due to its weight. The lavish cash rewards have attracted significant attention on social media, with some expressing envy and others calling it a publicity stunt.
Value our content... contribute towards our growth. Even a small contribution a month would be of great help for us.
Since five years, we have been serving the industry through daily news and stories. Our content is free for all and we plan to keep it that way.
Support HRKatha. Pay Here (All it takes is a minute)