Company Offers $70,000 A Year Minimum Wage

Transcript

STEVE INSKEEP, HOST:

Good morning. I'm Steve Inskeep. Labor unions say the average CEO makes 331 times more than the average worker - way more than it used to be. But things are changing at Gravity Payments. The Seattle firm helps merchants process credit card payments. The CEO announced an annual minimum wage - $70,000 per year. Some employees will more than double their pay, and the boss will take a pay cut to make it possible. It's MORNING EDITION. Transcript provided by NPR, Copyright NPR.