Here salary is ‘gold’; The company says it will beat inflation

One company has gained attention on social media by offering gold in lieu of cash as salary to employees. Naturally you would think this would be a jewelry or gold mining company. But that’s not the case. The CEO of the company said that this will help the employees to beat the inflation comfortably. City AM, a local business newspaper, reports that Cameron Parry has made that clear.

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After Kovid, the whole world is facing the threat of inflation. Inflation in the US hit a 40-year high. The U.S. has taken a tough stance on tackling inflation. Adopted by the Fed. In India, too, inflation hit an eight-year high last month. ‘At such times, the traditional currency will gradually lose its purchasing power. “Gold gives people a better chance of overcoming inflation,” Cameron said.

While the value of gold has been steadily rising this year, the cost of the pound is declining ‘at a dangerous rate’, Parry said. The City AM report states that the company has made a new decision that does not make sense to increase wages to meet the cost of living in the face of a daily depreciation of the pound.

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There are more than 20 employees working at the Paris Ptolemy. Senior staff members are currently given only gold. But the company plans to extend the new payroll plan across the board. The newspaper reported that Pari was also receiving his salary in gold. There are also reports that gold is gaining traction when monetized.

The company also offers the opportunity for those who want to get paid in pounds. The essence is that gold does not hit anyone on the head. This is the only option to tackle inflation. Employees can choose what suits them best. The pound is currently at a two-year low. The Bank of England has warned that 2022 could be a year of recession. Demand for the US dollar has risen sharply on the back of rising international oil prices.

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Published on : May 16, 2022 at 9:36 AM

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