Columbia Sportswear CEO Takes Pay Cut To Help Support Employees During Coronavirus Crisis

Tim Boyle, president and CEO of Columbia Sportswear Company, is cutting his salary to keep his employees paid during the coronavirus crisis. Boyle reduced his salary to $10,000, Mary Ellen Glynn, Columbia’s director of corporate communications, said in a statement. Boyle made $3.3 million in 2018, according to The Oregonian. His decision to take a paycut comes after Columbia Sportswear, like many stores across North America, closed its doors on March 16 following coronavirus restrictions. The company’s roughly 3,500 retail employees were at risk of losing their jobs or not getting paid. Now, employees will continue receiving their regular paychecks, Glynn said. Read more at CNN Business.