Texas Roadhouse CEO Gives Up His Salary And Bonus To Pay Employees.
The novel Coronavirus started in Wuhan like a mild infection that would never escape the control of the Chinese. With robust health systems in place, the Chinese thought they’d get hold of the virus and restore health to its infected population.
However, things got out of hands as new people got infected every other day. Before we knew it, the virus was all over the world, and WHO had no option but to name it a global pandemic. As we speak, we have more than 500, 000 infected by the virus world over.
With lockdowns announced in different parts of the world, we almost end up with a dying economy. So far, millions of people have to deal with joblessness, and it’s getting worse every day.
Every leader is trying so hard to protect their people from the economic downturn. In the U.S., taxpayers will be receiving a direct stimulus from the government to take care of expenses during these tough times.
And not just the government alone, even business owners are taking an initiative to protect their employees from the impacts of COVID-19 disease on their income. Texas Roadhouse CEO, Kent Taylor, is one of those bosses who are mindful of their employees during this difficult time.
The CEO is giving up his salary and bonus this year to pay the steakhouse chain’s front-line employees during the coronavirus pandemic. Taylor decided to forego his base salary and incentive bonus from the period beginning March 18, through to January 7, 2021, according to a report by MarketWatch.
As of 2018, Taylor’s compensation was $1.3 million down from $8.5 million in 2017. His base salary in 2018 was $525,000. He received a total of $7.3 million as stock awards in 2017 but received none in 2018.
It’s so kind of him to think about his employees at this time. Not that he’s not feeling the pinch of the COVID-19 pandemic, but he’s making a sacrifice for people who are mostly going to be affected by the pandemic.
While every other person is trying to secure the little they have unsure of what the future holds, he has decided to do what’s left for a few. If all tycoons followed suit, the less privileged will have something to hold on during this difficult time.
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