[mukto-mona] This CEO Just Raised His Company's Minimum Salary to $70,000 a Year

Remember the CEO, who raised minimum salary to 70,000 and some employees left because of that. Today, I saw in a news video clip that - his company is not doing so good, and he now mortgaged his home to meet the expenses of his company. What a lesson for young entrepreneurs!

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This CEO Just Raised His Company's Minimum Salary to $70,000 a Year

—By Inae Oh

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Inspired by research suggesting that the emotional well-being of many of his employees could be improved by a raise, the owner of a Seattle credit card payment processing company has just announced that he will boost their minimum salary to $70,000.

The New York Times reports Gravity Payments founder Dan Price will slash his own $1 million salary to $70,000 and use a majority of the company's forecasted $2.2 million profits this year to help pay for the bold move. Many of the workers affected by the raise include sales and customer service representatives.

Of the company's 120 employees, 30 will see their salaries almost double.

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Posted by: Jiten Roy <jnrsr53@yahoo.com>

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