Appliance Giant Gree Grants Companywide Pay Raises to 70,000 Employees

(Beijing) — Gree Electric Appliances Inc., China’s largest domestic air-conditioner maker, unexpectedly announced pay raises for virtually all of its 70,000 employees in the wake of two key personnel changes and amid lingering negative publicity over a failed bid to buy an electric-car company.

Starting in December, employees who have worked at the Zhuhai-based company for more than three months will see their monthly salary rise by 1,000 yuan ($145) from their current amounts, the company announced Friday.