A Company Copes With Backlash Against the Raise That Roared

8/7/2015

This New York Times article examines the case of Gravity Payments, a credit card processing company that faced backlash after its CEO, Dan Price, announced that he would raise the company's minimum wage to $70,000 a year. The article details the mixed responses from both employees and the public, with some praising Price's decision as a bold move towards income equality, while others criticized it as unsustainable and potentially detrimental to the company. The article also delves into the challenges and adjustments faced by Gravity Payments following the wage increase, including employee resignations and financial constraints. It provides an insightful look into the complexities and debates surrounding the implementation of significant wage hikes within companies.

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