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Many retail stores have been forced to shut down during the coronavirus pandemic. Columbia recently announced that they would be extending their closures until April 10.
Shortly after announcing the extended deadline for their closures, CEO Tim Boyle announced he would be taking a massive pay cut to ensure employees would continue receiving pay during this time period.
In addition to Boyle taking a pay cut, additional company executives will reduce their salary by 15 percent.
“Our employees will continue to be paid during this period of time, and we hope to have them back at work soon,”
“Our company has taken many steps to carry out the health and safety advice from the relevant health authorities around the world to limit potential transmission of COVID-19.”
– Tim Boyle
The announcement from Columbia comes shortly after Texas Roadhouse announced that their CEO, Kent Taylor, would be giving up his bonus and base salary to ensure that their employees would continue to be paid during the pandemic as well.
The post CEO Cuts His Salary To Pay Employees During Coronavirus Pandemic appeared first on America's Keepers.