Raise That Went Sideways

The way things have been going for Dan Price lately, you’d think he had spent his summer hunting endangered lions in Zimbabwe. In fact, the Gravity CEO gained top news notoriety when he decided to cut his own salary and raise his company’s minimum wage to $70K a year. The move was widely celebrated in the media. But since then, several customers have departed, some key employees split because they viewed the salary hike for new employees to be unfair, and Price’s co-founder (and older brother) has filed a lawsuit that could potentially crush the company. They say there’s no such thing as bad P.R. But maybe there can be such a thing as too much P.R. From the NYT: A company copes with backlash against the raise that roared.