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Gravity to pay employees 70,000 -wish more compaines would


footfree

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Hi- The guy who is the CEO of the company was on the Today show this morning. He was making a million dollars a year, and he decided to cut his salary to $70,000, so he could increase everybody elses salary. I believe the company only has 120 employees. They used to do that at Ben and Jerry's. Both Ben and Jerry only received $200,00 a piece annually, but when they decided to step down from every day operation of the company, they could not get anybody that was qualified for the CEO position that would work for $200,000 a year. Now I think the company is owned by Unilever.

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A few financial "experts" are saying this is more of a publicity stunt then it is progress. The company doesn't profit enough annually to justify the pay raise and if they aren't careful it could bankrupt them.

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It's similar to walmarts publicity stunt with pay. New hires now start at 9/hour and if they are still successfully employed, will go up to ten dollars after 6 months. That's nice for them, but it is doing nothing for loyal employees that have been there longer. Raises are being cut in half for employees that aren't new, and new hires will be making the same amount of money that it took other people 3-5 years to get to ,but the public only hears about the new starting wage. :evil:

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I guess we will wait and see what happens.Plus I bet they won't do a follow up if it pans out only if they fail.However I think we all agree that with minimum wage no one can earn a living wage.There is so many other aspects to business that haven't been answered in the article.Plus I really do believe that most CEO'S of corporations are way over paid anyway.

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I've heard that just the CEO taking a huge pay cut is not going to totally cover the increase in everybody elses salary. Profits are going to have to suffer as a result. I am just curious if the handful of people at Gravity that were making more than $70,000 before they decided to raise everybody's salary , will have to take a pay cut?

I have a friend who told me last night that he was going to a rally in Chicago to try and get the minimum wage increased to $15 an hour. I am afraid that if forced to pay everybody $15 an hour, places like McDonald's are going to have to jack up prices, and lay off employees, which means that the employees that remain, are going to have to work twice as hard. I know McDonald's is going to give everybody a $1 an hour raise.

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I know McDonald's is going to give everybody a $1 an hour raise.

That's also mostly a publicity stunt. Only 90,000 of the 1.5 million employees are eligible for the extra $1 an hour. McDonnalds is also franchised so that takes some stores off of the list. If I remember right the raises will only go to about 15% of the stores or 15% of the employees. One or the other...

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