SEATTLE - UNITED STATES. A CEO made the decision to cut his own salary and wage increase of 120 employees last Monday.
According to the Daily Mail, Dan Price, CEO of the company Gravity Payments, a credit card processing company generated revenues of USD 1 million (RM3.7 million) a year before the announcement.
Price got the idea after an investigation regarding how the salary increase can give joy to workers earn USD 70,000 (RM26,000) per year.
"Are you surprised? I was shocked," Price told his staff cheered in a meeting.
Price told The Times that he was distressed by the hardships suffered by his friends and family members who earn about USD 70,000 per annum.
"They tell their troubles to me almost every week. I feel overwhelmed and depressed," said Price.
Price Gravity Payments founded the company in 2004 at the age of 19 years.
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