Seattle CEO to cut his pay so every worker earns $70,000

[slighted]

So the company should be facing some trouble implementing this.

No surprise there. A fine example of this being good on paper, but horrible in real life. Wonder how much grief the BOD gave him, how pissed investors were, and what will happen if their profit margin doesn't increase. Companies like these are notorious for low profit margins and usually seek to get bought out by bigger firms.

A better solution would've been a slight increase for everyone across the board. I'm sure he thought of what happens if the company goes bankrupt and these people are unemployed.

 

[beacon ave south]

http://komonews.com/news/local/seattle-company-with-70k-salaries-for-employees-doubles-office-space

 

[sonoftony]

..and people was saying this was a bad move 2 years ago

This is what happens when an employer puts his employees first

 

[capital sb]

..and people was saying this was a bad move 2 years ago

This is what happens when an employer puts his employees first

First ceo to put his employees first ever . Lol will 100% work everytime .

 

[friscostylez]

Bump

 

[nawghtyhare]

Bump

What are we bumping for
Is there new news

 

[eracism]

He gave his employees a $10k raise plus opened a new office where they will all earn the $70k minimum. Socialism works.

 

[ninjahood]

Socialism works.

more like da economy and regulations hasn't been this friendly
for companies since da 80's, so you got this guy making buku bucks and paying it forward to his employees.

 

[DCAllAfrican]

What are we bumping for
Is there new news

New news though?

Couldn't you have just used the word NEWs?

 

[sreggie101]

just a good example that shows if company execs want to maintain talent retention, employee satisfaction, etc, then compensate accordingly. capitalism with some semblance of morality.

amazon is the world's most valuable company (currently) at about $316b and i believe bezos is the richest in the world at $112 billion. so i don't want to hear they can't afford to pay their warehouse workers more than $15/hr.

i don't have a problem with being filthy rich (don't really cosign that far-left notion that they shouldn't exist)...just if you got there by taking advantage of people by wringing them for as much work as possible with wages that don't even account for the cost of living.

 

[nawghtyhare]

New news though?

Couldn't you have just used the word NEWs?

I said what I said

 

[DCAllAfrican]

I said what I said

When would that ever NOT be true though?

 

[htg designs]

That 70k turned some his employees to bodyguards and hitmen I bet

 

[nawghtyhare]

When would that ever NOT be true though?

If someone was personating me
Or if someone was relating a message
But got the facts were invorrwct
That is an instance where it could not be true

 

[DCAllAfrican]

If someone was personating me
Or if someone was relating a message
But got the facts were invorrwct
That is an instance where it could not be true

If someone was WHAT-ing you???????

 

[ninjahood]

just a good example that shows if company execs want to maintain talent retention, employee satisfaction, etc, then compensate accordingly. capitalism with some semblance of morality

much better framing.

 

[nawghtyhare]

If someone was WHAT-ing you???????

Relaying a message

 

[boris]

It's crazy how treating people like people is some revolutionary idea.

 

[Mark Antony]

More to the idea of what I was referring to in cosmiccoffee9 billionaire thread. Like they took that philosophy for that small portion of their world, more money to the people and resources and it works. Everyone is comfortable, from the person greeting you to the ops staff to the execs.

 

[cosmiccoffee9]

More to the idea of what I was referring to in cosmiccoffee9 billionaire thread. Like they took that philosophy for that small portion of their world, more money to the people and resources and it works. Everyone is comfortable, from the person greeting you to the ops staff to the execs.

like, even from a selfish corporate perspective you're getting happy, high-functioning employees who will be glad to help your company run better and damn near fight to the death to keep their job...it's an investment.

 

[Mark Antony]

And I bet it didn’t even really affect the bottom line.

 

[mplsdunk]

I wanna go work in an amazon warehouse for a day and get fired just to see how it is.

 

[DCAllAfrican]

Relaying a message

Is that "personating" means?

Cool

 

[dmbrhs]

Story is a few months old, but here's some more info: the $70,000 salaries won't come until 2024. Gravity acquired this company three years ago. They chose to spend all their money on a shiny new office, rather than pay them what their Seattle counterparts are gauranteed. The owner basically admits this when he says they are only breaking even with the temporary raises ($10,000). Also, most of the people in those Twitter photos likely won't still be with the company by the time those $70,000 salaries roll around.

 

[dipsetgeneral]

Yeah he's much better than me. He'll get rewarded in the long run.