The company that owns Huggies Diapers managed to reduce costs of production multiple years in a row while raising prices for consumers at the same time.
this post was submitted on 14 Jan 2024
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Antiwork
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Record amounts of lemmings have no clue about economics, lol.
What do you mean by this, by the way? Dead thread now so no stakes, but still interested in how your take is different, because I haven't heard this opposition from anyone before.
- Most companies have "record profits" while having the same profit margins as before. That doesn't mean they're greedy or whatever, that means people are buying more shit than ever.
- Many companies had a few tough years before yet no one was posting about record loses.
- These profits are going into YOUR pocket at the end of the day. Because one way or another YOU are the investor. You should be happy when companies are doing good.
- a Bonus, not a raise. If it was a Raise, it'd be per Month and you'd have to multiply it by 12 again, making it 53bn, more than double the Profit
- these 400k ignore a lot of people working in franchises that would go empty-handed
Anyone trying to portray anything as a simple Issue is lying to you. Don't fall for it.
Uh, no, they said raise. Nothing about this post mentions bonus, nor does it make any more sense to say "bonus" instead of "raise". Why would a raise mean monthly? Pretty sure every Starbucks is a franchise. How would that change a structured raise plan?
A raise can be yearly as well (it's how I'd interpret it by default in Europe). The only thing it implies is that they'd have to be paid that next year as well, which also seems far from realistic considering the cost of it is ~20% of current profits. (Plus it'd be tax exempt as an expense, so probably even less of profits)
On point 2, the only source I've found is https://fourweekmba.com/starbucks-company-operated-employees/, implying the 400k includes franchised employees and 248k "company employees", so it seems like it's included.
Surely Starbucks have more employees than that? Are they all franchised or something?
If it's 400,000 employees, that means at least one in every thousand Americans works for the company.
There is a world outside the USA.
Why is this list not sorted? Am I the only one confused by this?
It is sorted, it's a list of "gigantic asshole companies" they just all tied for first.
:P
This is garbage data. Learn the difference between revenue, gross profit, and net profit.
Ok. $36 biliion consolidated net revenue reported at a 16% profit margin for fiscal year 2023 still leaves $5.76 billion in money that went somewhere after everyone was paid, taxes were ~~avoided~~ paid and all approved expenses were handled.
Edit: adding source https://investor.starbucks.com/press-releases/financial-releases/press-release-details/2023/Starbucks-Reports-Q4-and-Full-Year-Fiscal-2023-Results/default.aspx
WILL SOMEBODY PLEASE THINK OF THE SHAREHOLDERS???? HOW CAN THEY SURVIVE WITHOUT THEIR (checks Starbucks earnings sheet) $4B IN NET EARNINGS!?!?
B-b-but I was told that paying employees more would cause inflation!
I'm pretty sure the last couple of years has been mass rich fuck retaliation for pushing some fast food workers wages to $15/hr.
The poor rich people
All together it's $528.773 billion! That's $66 for each and every single person on the planet!
What even the fuck.
Aka one family meal at Culver's.
An $11,000 wage increase is ~$5/hr for a full time employee.
Starting pay at Startbucks is around $15/hr. They're famously stingy with full-time though, so in reality it is quite a bit more than a 25% increase.
Honestly, I was expecting to find some glaring error in the logic on this but I don't really see it.
Yeah, this inflationary period shows that it has to do with profit-seeking and not monetary supply. We made the money printers go BRRRRR for a very long time with almost no inflation, then suddenly COVID and supply chain hiccups gave corporations an excuse to transfer more of society's wealth to themselves by raising prices and not lowering them again afterwards.
Can't expect change when all we elect are wealthy people who care more about their stock portfolios than their constituents.
Yup. Itβs pure insanity that most of Congress is made up of lawyers & businesspeople.
Who should it be made of? Fry cooks and fork lift drivers?
It should be made up of everyone. I don't see any reason fry cooks and fork lift drivers shouldn't be there, they definitely deserve representation.
If you're convinced those people are all too stupid or lazy for the job, then maybe you could at least get on board with engineers, doctors, scientific researchers, artists, farmers, teachers, etc. Anyone who works hard at whatever their chosen profession is should have a shot. But our current system selects for low ethical standards, improv skills, and self-preservation instincts rather than real achievement.
Why not?
This is news? Of course record profits drive inflation! That's why we pay exhorbitant rates for things like gas during summer travel months. They know they have us by the short hairs and can raise prices anytime they want and people will still pay them.
As a common proletariat it infuriates me to have to pay so much for stuff and get so little in return. As an aspiring member of the bourgeoisie, if I were in charge I'd keep raising prices as far as possible to make people pay through their teeth, assholes, and nards.
It's human nature. The whole point of George Orwell's story, "Animal Farm." Let's revolt and take over the means of production so everything can be more equal. Uh oh, a group of pigs has decided they are in charge and should have a larger slice of the pie than everyone else.
And so it goes.