An Email from Avnet’s CEO been disclosed recently, in this email, Mr. William Amelio announce the execution of the bonus which he had set during last QBR. The content of this Email is as below:
During the last QBR, I announced a special profit sharing bonus that would be paid to eligible employees in April 2018. This bonus recognized the extraordinary effort and commitment demonstrated by our people across the globe in supporting customers and delivering on Avnet’s growth and profit goals.
We set aside a pool of $6M at the corporate level for this purpose and determined that this bonus opportunity would be provided primarily to non-management employees who meet the criteria outlined below:
Hired before April 2017
Meets or exceeds performance requirements (not on a performance improvement plan)
Actively employed (excludes employees who have given or received notice of termination)
With Avnet full-time or part-time (excludes contractors and interns)
The exact amount of the bonus will be communicated locally. It was based on a set USD target and adjusted to local market pay ranges, because Avnet’s compensation ranges are determined in each geography. You may contact your manager or HR representative with any questions.
Just as we had to make tough decisions that affected everyone around the world when business conditions required it. I am hopeful that we can continue to provide rewards for our global team as overall business performance improves
Thank you for your outstanding work!