Gree Staff Get Another USD160 Raise After a Mere One Year
Liao Shumin
DATE:  Feb 26 2018
/ SOURCE:  Yicai
Gree Staff Get Another USD160 Raise After a Mere One Year Gree Staff Get Another USD160 Raise After a Mere One Year

(Yicai Global) Feb. 26 -- The staff of Gree Electric Appliance Inc. got a monthly salary increase of CNY1,000 (USD159) following their last raise in December 2016. Gree announced it would increase the staff monthly salary by CNY1,000 on its official WeChat account on Feb. 25.

The last raise was also CNY1,000. The increase applies to employees who passed their 3-month probation period. However, this year's increase is not universal, but is based on personal performance and post as well as other factors. Gree, based in Zhuhai in China's southern Guangdong province,  had over 70,000 workers, per the company's annual report for 2015. The raise thus adds CNY840 million to the company's annual costs. 

"The future development of Gree is not just to achieve a target of several 100-billion revenue, but to bring a much better-off and happier life to all our employees through the realization of that target. And, all of us can feel fulfilled both in spirit and material," said Gree chairwoman Dong Mingzhu in her new year's address.  

Gree's overall salary raise in 2016 came shortly after the general meeting rejected a resolution to buy Zhuhai Yinlong New Energy Co. Dong became irked and castigated certain shareholders for only seeking dividends without any vision for the company's future development. Some, however, held that Dong's salary increase was a form of punishment of those shareholders who disagreed with the purchase plan by seizing a portion of their dividend and distributing it among staff.

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Keywords:   Gree