Seattle-based credit card processing company Gravity Payments CEO Dan Price cut his own salary six years ago, giving all employees a base salary of at least $70,000 a year, and was blasted by Fox News as a “socialist “The employees are waiting to receive relief supplies. Price 14 on Twitter to report on the recent situation, said the company’s revenue increased to three times, become a Harvard Business School research example, buy a house employees have swelled to 10 times, and add “always invest in people”.
Price, CEO of Seattle-based credit card processing company Gravity Payments
Price pointed out in a series of tweets that since the basic salary was raised to $70,000 six years ago, the company’s revenue has tripled, the total number of employees has increased by 70%, and the customer base has doubled, and listed the workplace, life and financial achievements of many employees. At the same time, the company expanded to Boise, ID, the capital of Idaho, where prices are lower than in Seattle, and the base salary was gradually increased to $70,000.
Currently, the total number of Gravity Payments employees has risen from 130 to 200, and the gap between the highest and lowest salaries has been reduced from 33 times to 4 times. Price also admitted that the company’s revenue dropped 55% overnight when the new crown epidemic first broke out, but employees stayed with the company and volunteered to take a temporary pay cut to prevent their colleagues from being laid off. As the company survived the storm, everyone’s salary was not only raised, but now they even get a raise.
Price wrote in a tweet, an employee in McDonald’s secret part-time job, let him understand that he is a poor boss who delayed employees, he raised the salary of that employee, so that she no longer have to go to McDonald’s part-time job, “no one should have to do two jobs to make ends meet”.
Price also revealed that when he was invited to appear on a talk show on Fox News, the production assistant who helped him on the road confessed to earning only minimum wage and struggling to make ends meet in New York City. Price once asked the host, who was paid seven figures and openly ridiculed him, if he could talk about the salary of the production team on the show, but the other side always said no.
Price pointed out that in order to find financial resources, he cut his salary from $1.1 million directly to $70,000, “I do not miss the life style of a millionaire at all. Money buys happiness when you climb out of poverty, but being promoted from rich to very rich doesn’t make you any happier, doing what you believe is right does”.
Recent Comments