It should be illegal to do layoffs or pay freezes to save money unless the CEO's compensation is at or below a threshold set proportionally to the lowest paid employee.
this post was submitted on 25 Apr 2024
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We have awarded ourselves a round of bonuses to reflect how well we've navigated these layoffs.
How is it that no company has union busted by handing out shares of the business to their workers?
Organic Valley did that
Amazing... I gotta go see how it practically worked out. Thanks for the example!
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Oh puh-lease!
Employees don't risk anything except their career, livelihoods, and homes.
Investors take enormous risks, like a small amount of their vast wealth, and maybe even risk losing a controlling interest in the board. If they really fuck up, they might even risk not being allowed to be a CEO again for a few years.
But go on, try to convince me again that employees deserve a bigger share...
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Still mad that a coworker got fired because a different, unrelated department lost a sale. Sales keeps their bonuses but socialized their loss. Fuck them.
Last month we had our AGM where they announced record profits, like our company has literally never done better. Just in the difference in profits from last year they could give every employee in the company a $15k bonus.
Then a week later we had a department meeting where they announced 6 people being made redundant as part of a larger wave of lay-off to "keep the company competitive in a challenging market"
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The shareholders could go poor while labor gets all the money and I still won't be happy. The shareholders have more power than the workers. Fixing wealth doesn't magically summon democracy and fix power imbalances.
Power imbalance is the sickness, wealth inequality is a symptom.
All companies need to be owned by their workers.
this is also true for customers - imo customers also need a stake in businesses especially ones that have anything approaching a monopoly.
The obvious solution would be a law that any company of a certain size should have 25% of its board nominated and elected by non managerial workers and 25% appointed by public election or appointed by an elected official.
Or just have the entire company run democratically. And before you say this can't work let me introduce you to a worker co-op with over $12 billion in revenue annually
I think this depends on the company.
Yes if there is monopoly, for sure, I agree.
Also companies offering essential services.
Most importantly social media. Social media is run by users, and they should have a majority representation. The social media company is just doing an IT service, really.
the workers can be shareholders though. some companies even pay a bit in stock or options. however, dividends are usually very low and most shareholders make their money with gambling the stock market, which has little to do with labor at all.
Sure but giving employees a tiny fraction of the company is not democracy. All workers must collectively own the company. And nobody who doesn't work there should get a say.
Also the whole thing I just said, it's not about wealth it's fundamentally about power.