Gravity Payments', a payment processing startup, CEO Dan Price went viral after he announced to cut down his salary by 90% from $1 million to $70,000, as annual minimum wage.
He has making his own effort to resolve the issue of inequality in his company.
Cutting his own wage will definitely boost that of his workers.
Dan said that they are going to have a minimum pay of $70,000, everyone who's part of the company.
The wage boost will be carried out in over the next 3 years with employees being paid the lowest at least $50,000 by this year's end, and by December 2017, $70,000 wage level reached.
Price added that his own salary for a year which is $1 million is "too high" which made him decided to cut down his own wage to the same wage of the employees until their profits will go back to normal or ascend.
His announcement received a hot applause from Seattle-based firm employees. The news has also come amid a debate about income inequality, wage inequality, and wealth inequality in the United States of America.
It is a very brave act to do the cutting off of his salary even he owned the business, this would really give a big help to his owned company.
This is also certifies that fairness is running around his business, so hats off.
What can you say about it?