Texas Roadhouse CEO to Forgo Salary to Help Front-Line Workers

  • Texas Roadhouse CEO to Forgo Salary to Help Front-Line Workers

Texas Roadhouse CEO to Forgo Salary to Help Front-Line Workers

To help struggling employees amid the novel coronavirus pandemic, the steakhouse chain executive will forego his pay from March 18, 2020, to January 7, 2021, MarketWatch reported Wednesday.

The steakhouse chain will also be suspending dividends occurring after March 27 in a move to conserve cash during the pandemic. "Shares were not yet active premarket, but have fallen 25% in the last 12 months, while the S&P 500 spx has fallen 13%", wrote MarketWatch.

As restaurants across the country are losing business because of the coronavirus outbreak, a CEO of a popular chain has chose to stop taking a salary for the remainder of 2020. Both locations are offering curbside to-go services. Many are turning to takeout and delivery instead.

A coalition of restaurants set up takeout campaigns to boost business during a stressful time for roughly 15 million industry workers, KRCR reported.

Numerous chain's dining rooms are closed, but Texas Roadhouse remains open for business with its to-go and curbside services.