Boss cuts salary from $1 mn to $70,000 to give workers pay rise
Posted April 15th, 2015, 05:50 PM IST
Dan Price, the founder of Gravity Payments, surprised his 120-person staff yesterday by announcing he will raise their salaries to a minimum of US$70,000 over the next three years, according to the The New York Times.
The CEO will pay $70,000 minimum wage to all employees
The idea originated after Price read an article on happiness. The article allegedley highlighted how for people who earn less than $70,000, extra money made a big difference in their lives. According to the Times, Price’s company, which he started over a decade ago when he was 19, has 120 employees. Seventy of them will see their salaries increased, and 30 will actually have their salaries doubled by the new policy.
Million of workers in Us and across the world call for an increase in wage, at least one CEO, publicity stunt notwithstanding, is taking matters into his own hands!
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