> He’s making a mistake. Keep the salaries the same. Give them a share of the profits.
I agree. He will be bankrupt in no time. Its a nice gesture or PR move but unless he has plenty of reserves the reality of his error in judgment for the sake of notoriety is going to be a swift kick in the a$$
I don’t get why he needs reserve. You must not have read the story.
Currently he makes a million a year.
He is going down to 70K a year
30 workers make between 48-69K who will not get a raise to 70K
How on Earth will that make the company go under.
Let’s use numbers.
Let’s say we go with the lowest paid today makes 48,000 and let’s just make all 30 get the lowest paid 48,000.
70K-48K equals 22K
22KX30K equals 660K
His salary minus new salary equals 930K
Total left every year will be at least 270K in reserves year after year.
Bankruptcy? How???????????