Gravity raises workers’ minimum wage to $70k each

With the world economy beginning to pick-up on both sides of the Atlantic and wage increases back on the agenda, one US chief executive has increased his company’s minimum wage to $70,000 (€65,800).

At a staff meeting this week, Dan Price, founder of Gravity Payments, told employees at the credit-card processor he was “going to have a minimum $70,000 pay rate for everyone that works here”.

The pay hikes will see about 70 of the company’s 120 employees earn substantial raises while about 30 will see their salary double.