Indian-origin CEO of US company sacrifices part of own salary for employees' salary hike

With big companies laying off employees for cost cuts CEOs like Tim Cook and Sundar Pichai stood as walls and sacrificed parts of their salaries to enable salary hikes of other employees. Now, another name has joined the clan. the CEO of The Container Store, Satish Malhotra will also a salary cut of 10 percent to enable salary hikes. 

Satish Malhotra is the CEO of the American retail chain company, The Container Store. Recently, he made headlines after he offered to reduce his own salary by 10 per cent to help with salary hikes of other employees at the company. 

Satish Malhotra has been serving as the company's CEO since February 2021. Malhotra previously worked at the internationally known cosmetic chain Sephora for 20 years.  According to a report in Daily Mail, Malhotra offered to bear a salary cut of 10 per cent from his basic pay to facilitate the hike of other employees.

After his gesture, Malhotra will now receive a salary with 10 per cent deducted for the next 6 months. So, now Malhotra will get Rs 6.9 crore instead of Rs 7.7 crore. 

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