According to the AFL-CIO, the following facts emerge regarding America’s largest corporations and their top executives:
At least 55 of the largest corporations in America paid no federal corporate income taxes in 2021 despite enjoying substantial pretax profits in the United States. This continues a decades-long trend of corporate tax avoidance by the biggest U.S. corporations, and it appears to be the product of long-standing tax breaks preserved or expanded by the 2017 Tax Cuts and Jobs Act (TCJA) as well as the CARES Act tax breaks enacted in the spring of 2020.
In 2022, CEOs of S&P 500 companies received, on average, $16.7 million in total compensation. This was the second-highest level of CEO pay in history for S&P 500 Index companies. It was 324 times more than then median pay of the average employee.
The AFL-CIO notes that the ratio of CEO-to-worker pay is important. A higher pay ratio could be a sign that companies suffer from a winner-take-all philosophy, where executives reap the lion’s share of compensation. A lower pay ratio could indicate the companies that are dedicated to creating high-wage jobs and investing in their employees for the company’s long-term health.
https://www.spotlightonlabor.com/wp-content/uploads/2021/08/icon.png500500Paul Beckerhttps://www.spotlightonlabor.com/wp-content/uploads/2021/08/spotlight_logo_.pngPaul Becker2024-07-19 18:44:012024-07-19 19:01:01SOME HARD FIGURES ON CORPORATE GREED
According to figures released by the AFL-CIO, in 2021 343 workers died on the job each day due to hazardous working conditions, a total for the year of 5,190. In addition, an estimated 120,000 workers died from diseases related to their work like exposure to hazardous materials, toxic chemicals and the like and violence at the workplace claimed the lives of 120,000.
Hundreds of unionists, members of Local 32BJ of the Service Employees International Union, took to the streets June 26 in New York to rally against a new landlord’s action against building workers. The landlord, Fifth City Realty, an affiliate of Empire Capital, had recently purchased the building at 529 5th Avenue at 44th Street in Manhattan.
The new management has proceeded to cut wages of the buildings cleaners nearly in half to the city’s minimum wage of $16 an hour. cancelling worker benefits like family medical insurance and terminating long term employees, including full-time and part-time security officers and a fire safety director.
The rally was joined by building workers throughout the neighborhood in support. “This company is bad on many levels,” said Denis Johnston, executive vice-president of 32BJ. “They’ve been referred to as billionaire bottom feeders. They don’t care about workers’ rights, they don’t care about tenant services, and they have a reputation of not investing in their properties.”
“My wages have been cut almost in half to $16 an hour. They have cut our benefits. How will we survive? They want to take away everything we have fought for. But we are fighting back,” said an 18-year 32BJ member who works at the Fifth Avenue building. Another worker at the building, a security officer, defiantly declared, “We can’t let greed win.”
https://www.spotlightonlabor.com/wp-content/uploads/2021/08/icon.png500500Paul Beckerhttps://www.spotlightonlabor.com/wp-content/uploads/2021/08/spotlight_logo_.pngPaul Becker2024-07-04 17:38:222024-07-04 18:37:34HUNDREDS OF BUILDING WORKERS IN MANHATTAN RALLY AFTER WAGE CUTS AND FIRINGS
SOME HARD FIGURES ON CORPORATE GREED
Labor BriefsAccording to the AFL-CIO, the following facts emerge regarding America’s largest corporations and their top executives:
The AFL-CIO notes that the ratio of CEO-to-worker pay is important. A higher pay ratio could be a sign that companies suffer from a winner-take-all philosophy, where executives reap the lion’s share of compensation. A lower pay ratio could indicate the companies that are dedicated to creating high-wage jobs and investing in their employees for the company’s long-term health.
For full details, see AFL-CIO website items: Corporate Greed and Executive Pay Watch
LATEST TOLL OF ON-THE-JOB DEATHS
Labor BriefsAccording to figures released by the AFL-CIO, in 2021 343 workers died on the job each day due to hazardous working conditions, a total for the year of 5,190. In addition, an estimated 120,000 workers died from diseases related to their work like exposure to hazardous materials, toxic chemicals and the like and violence at the workplace claimed the lives of 120,000.
AFL-CIO Website, 7/14,https://aflcio.org
HUNDREDS OF BUILDING WORKERS IN MANHATTAN RALLY AFTER WAGE CUTS AND FIRINGS
Labor BriefsPhoto: 32BJ SEIU
Hundreds of unionists, members of Local 32BJ of the Service Employees International Union, took to the streets June 26 in New York to rally against a new landlord’s action against building workers. The landlord, Fifth City Realty, an affiliate of Empire Capital, had recently purchased the building at 529 5th Avenue at 44th Street in Manhattan.
The new management has proceeded to cut wages of the buildings cleaners nearly in half to the city’s minimum wage of $16 an hour. cancelling worker benefits like family medical insurance and terminating long term employees, including full-time and part-time security officers and a fire safety director.
The rally was joined by building workers throughout the neighborhood in support. “This company is bad on many levels,” said Denis Johnston, executive vice-president of 32BJ. “They’ve been referred to as billionaire bottom feeders. They don’t care about workers’ rights, they don’t care about tenant services, and they have a reputation of not investing in their properties.”
“My wages have been cut almost in half to $16 an hour. They have cut our benefits. How will we survive? They want to take away everything we have fought for. But we are fighting back,” said an 18-year 32BJ member who works at the Fifth Avenue building. Another worker at the building, a security officer, defiantly declared, “We can’t let greed win.”
amNY, 6/27