Boss takes 90% pay cut to help staff

April 16, 2015 8:43 AM

66 0

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.

Also read: Mnuchin on robots taking US jobs: 'It's not even on our radar screen ... 50-100 more years' away

Read more

To category page

Loading...