The CEO of Texas Roadhouse will be forgoing his base salary and bonus in order to pay his restaurant’s employees who are working amid the coronavirus outbreak that has caused thousands of restaurants across the country to close.
W. Kent Taylor will forgo his salary and bonus between March 18 and Jan. 7 of next year to pay front-line workers at his restaurant, according to Market Watch.
Taylor earned $1.3 million in 2018, including a $525,000 base salary, Louisville Business First reported. Texas Roadhouse will also be suspending its dividend in order to save money during the coronavirus pandemic, Market Watch reported. Texas Roadhouse employs more than 56,000 people and has 563 locations in the U.S. and abroad. (RELATED: Dr. Fauci Comes Close To Recommending Complete Shutdown Of Bars And Restaurants)
The Cheesecake Factory, Wendy’s and other chains are helping their stores seek rent relief or are calling for rent reductions from landlords. The Cheesecake Factory’s CEO David Overton told landlords that the company’s stores would not pay rent for April due to the extraordinary losses, Business Insider reported.