Boss takes 90% pay cut to help staff

April 16, 2015 8:43 AM

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London - A chief executive has announced plans to raise the salary of every single employee at his company to at least $70 000 (£47 000) - and will fund it by cutting his own salary by 90 percent.

Dan Price, the CEO of the Seattle-based tech company Gravity Payments, gathered together his 120-strong workforce on Monday to tell them the news, which for some, will mean a doubling of their salary.

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