A CEO raised his company’s minimum wage to $70,000 a year, and some employees quit because of it

2 Aug

A CEO raised his company’s minimum wage to $70,000 a year, and some employees quit because of it.

minimum wage is in the news these days… this company went a lot further.

a very drastic wage plan that this company came up with. but two of his managers quit.

its a bit like communism, everyone earns the same, so what is the incentive to be a manager and take on much more responsibilities? none, unless it is a power trip and attract people who want to  gain power over others  and gaining other advantages that are not monetary. it  also have a bit of socialism in it.

his minimum wage is too much i think. no wonder those at the top quit.

he did all this 3months ago, but i read in the telegraph today that he has to rent out his home to make ends meet because his business ,a credit card payments processing business,  which was not doing well after that pay rise all 120 workers.

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