CEO of Gravity Payments will take nearly a $930,000 pay cut to help Pay for the Raises!
Gravity Payments in Seattle will pay a minimum wage to all employees of $70,000 regardless of the employees job title. Dan Price, the founder, and CEO of Gravity Payments freaked out his employees with the crazy announcement. He plans to change the salaries over the next 3 years.
According to reports; Dan Price founder read something about pay raises, and the effect they had on business, and loyalty of the employee.
If it’s a publicity stunt, then it’s a darn expensive one!
Gravity Payment’s has 120 employees, and 30 of them will see a double in their salaries over the next three years. Dan Price is giving himself a pay cut from $1 Million to $70,000.
