CEO Slashes $1 Million Salary To Give Lowest-Paid Workers A Raise

[ErnieG]

I know nice stories like this don't get much pull here on the forums. Had to share this anyway because it's sooooo doggone nice!!!


Growing income inequality had been on his mind for months. But as he went for a hike with a friend one afternoon and listened to her describe her struggle with rising rent prices, he realized he had to do something for his own employees.

So Price, the founder and CEO of Gravity Payments in Seattle, decided to raise the minimum salary at his 120-person payment processing company to $70,000. At a company where the average pay was $48,000 per year, the move -- which was first reported by The New York Times on Monday -- affected 70 workers, 30 of whom saw their salaries double.

http://www.nytimes.com/2015/04/14/bu...one-share&_r=1