As a cost cutting measure, the executive team at Grill Concepts, parent company of Daily Grill and Grill at the Alley restaurants, will take a voluntary 10 percent pay cut effective immediately.
Philip Gay, president and chief executive, said the step is being taken as a cost savings measure and to ensure that the guest experience continues to be exemplary. The pay cuts will remain in effect for an indefinite period with the promise that, when the nation pulls out of these recessionary times, team members will be adequately compensated.
“This is a difficult time in our nation’s history and all of us have to make sacrifices,” said Gay. “Our family of employees is of utmost value to all of us and we want to make sure that we do everything in our power to ride out these uncertain times without having to take drastic measures. The 10% pay cuts were agreed to unanimously among our executive team. We pledge to repay them in some way when the economy improves.”
The company operates 32 restaurants including one in Tulsa.