Dan Price and Katie CouricIt’s never too late to say kudos, and we’d like to give a big kudos is to Katie Couric. It was reported this week that Couric cut her salary by $1 million dollars when she was anchoring CBS Evening News to save others’ jobs at the network.

The cut came after meeting with CBS News President, Sean McManus, after hearing of budget cuts that would result in significant layoffs. Alan Berger recalls this meeting in his book “Powerhouse: The Untold Story of Hollywood’s Creative Artists Agency” that “in the third year of Katie’s tenure . . . upcoming budget cuts would involve significant layoffs . . . from senior-level producers to young associate producers — all key contributors to the production of the daily newscast.”

Couric decided she would only cut her salary under two conditions. Firstly, as Berger points to in his book, “the money would be directly used to pay for her staff so that they would not be terminated,” and that “this would be done quietly and with no public or private acknowledgment or announcement about her gesture.”

It’s a noble thing to put your own financial stability at risk to help secure the livelihood of others and it’s exactly the type of solidarity we encourage throughout the Gravity and or communities.

Thank you, Katie, for being an example of other leaders around the world who are putting purpose and people, before greed and profit. Gravity loves you.

For information on the follow-up from our $70,000 minimum wage announcement and CEO, Dan Price’s, own million dollar pay cut, please visit www.thegravityof70k.com

Categories: Be Your Own CEO, Management + Culture