Fab CEO showing how to lead from his bank account

It doesn’t really matter whether Fab CEO Jason Goldberg is relinquishing his 2014 to cut costs or as a symbolic move, but that doesn’t really matter. When your company is failing, it’s the CEO’s job to take responsibility. He’s doing the right thing.

Online retailer Fab continues to look to shed costs in the wake of massive layoffs that have eliminated 37 percent of its staff in the last two months.

Among the measures being taken: On Friday, Fab CEO Jason Goldberg told the staff that had survived the prior day’s job cuts that he won’t take a salary next year, he told AllThingsD in an email this weekend, although he did not respond to an inquiry about the amount of his salary. Whether this is a true cost-cutting step, or intended to be more of a sign of good faith or a morale booster, isn’t clear.

Read full article