The parent company of the Daily Grill chain of restaurants said Wednesday that a dozen top executives would take a 10 percent pay cut to help offset the effects of the ailing economy.
The pay cut, effective immediately, will affect executives whose annual salaries range from $100,000 to $350,000, said Philip Gay, chief executive of Woodland Hills-based Grill Concepts Inc. Four of the executives are members of the company's board of directors.
"We have 2,500 mouths to feed, and it's important they understand we executives running the company stand behind them," Gay said. "We're putting the money where our mouth is."
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