Scientific Games CEO Cuts His Salary By 100% Rather Than Lose Staff
April 2, 2020
The COVID-19 outbreak was an unforeseeable tragedy that has impacted the world and shook its financial stability to the core. However, as is always the case in dark times, humanity begins to shine brighter through acts of thoughtfulness and decency.
While many companies are forcing staff to take unpaid leave or simply letting them go Scientific Games has stepped up as a shining example of what it means to put value people in times of trial.
In a recent Scientific Games press release CEO Barry Cottle said:
“Like many others, our industry is facing unprecedented challenges from the widespread impact of the COVID-19 outbreak. We are working around the clock to take care of our employees, customers, shareholders and other key stakeholders in these difficult times while providing uninterrupted products and services to those customers who continue to operate.”
The above are not mere platitudes meant to tickle our ears, Scientific Games leadership team is putting their money where their collective mouth is with the announcement that in order to save jobs over the long term CEO Barry Cottle will be taking a 100% salary reduction and the remainder of the senior Executive Board has offered to take a 50% reduction in salary to put cashflow into the business and pay staff salaries.
Hardship Relief Fund
Given that Scientific Games offers both physical and online casino games there will be segments of their business which will face short hours or reduced pay as there is simply no work for them. To support these staff members during the lockdown period Scientific Games is establishing a Hardship Relief Fund.
This fund will receive corporate contributions from the company as well as personal contributions from Barry Cottle and the senior Executive Board. The fund will be available to all staff who “incur unexpected and onerous personal, family, or living expenses as a result of the COVID-19 crisis”.
Bravo Barry Bravo
Barry Cottle went on to say:
“I am confident that the measures we are taking now will prepare us to come out of the crisis even stronger than before. And, I have never been prouder to lead a team where everyone is stepping up to help each other, our partners and our Company.”
As long term iGaming participants the team behind Top Spot Casinos has never been prouder of how the industry as a whole has come together to put people over profits and wish Scientific Games nothing but success for the rest of 2020.
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