Seattle boss raises entire company's minimum wage to $70,000
After hearing about a study that claimed income-- to a certain level-- directly affects one's emotional well-being, the founder of a Seattle-based credit card processing company announced Monday that he will take a large salary cut so he can increase the pay for each employee to at least $70,000 a year.
The New York Times reported that Dan Price, the head of Gravity Payments, told his 120-person staff about the plan after talking to friends about the difficulties of making $40,000 a year.
