Texas Roadhouse CEO foregoes salary for 1 year to pay workers amid coronavirus: reports
Texas Roadhouse CEO and founder Kent Taylor will give up his pay for the rest of the year so that the money can go to “front-line workers” amid an industry crunch due to restrictions aimed at slowing the spread of COVID-19, according to reports.
To help struggling employees amid the novel coronavirus pandemic, the steakhouse chain executive will forego his pay from March 18, 2020, to Jan. 7, 2021, MarketWatch reported Wednesday. The company will also suspend its dividend during the crisis.
A spokesperson for Texas Roadhouse did not immediately respond to a request for comment.
RESTAURANT CHAINS MODIFY SERVICE AS CORONAVIRUS OUTBREAK CONTINUES
The chain took part in “The Great American Takeout” campaign on Tuesday as restaurants around the country have been limited to serving to-go meals only in an effort to slow the spread of coronavirus.
“We are open for business and still serving America even though many of our dining rooms are temporarily closed,” Taylor said in statement pinned to the top of the company’s website. “As the President and other officials have stated, restaurants play a vital role in our nation's food supply, and we are going to help fill the gap where and how we can.”
CLICK FOR COMPLETE COVERAGE OF THE CORONAVIRUS OUTBREAK
A coalition of restaurants set up takeout campaigns to boost business during a stressful time for roughly 15 million industry workers, KRCR reported.
“Local communities across America will be stronger on the other side of this crisis,” Taylor said.
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Texas Roadhouse has more than 500 restaurants across the United States, according to USA Today.
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