Recognizing the economically tough times restaurant workers are facing during the coronavirus crisis, the CEO of Texas Roadhouse is reportedly forgoing a salary to pay the employees still working to feed customers.
In a report by MarketWatch on Wednesday, W. Kent Taylor agreed to forgo his base salary and bonus between March 18 and Jan. 7 of next year. The money will be used to pay front-line workers.
Taylor earned $1.3 million in 2018, including a $525,000 base salary, Louisville Business First reported.
The report added Texas Roadhouse is suspending its dividend in order to conserve cash during the COVID-19 pandemic, citing a SEC filing.
The publicly-traded company based in Kentucky employs more than 56,000 workers and has 563 locations in the U.S. and internationally.
Texas Roadhouse CEO gives up salary to pay workers during COVID-19 outbreak