That’s just the exorbitant profit that they put into stock buy backs. And if they spent half of that on buybacks and gave every employee a 10k bonus I’m sure opinions of them would be a lot more favourable.
They could easily cut back some of their “profit” to pay people better
Yes, I don’t disagree that it should have gone to employees, just wanted to be clear that $10 an hour wasn’t quite accurate. I’m sure a one time yearly bonus would be just as much appreciated and needed.
They don’t do $3.4b stock buy backs every year I imagine.
No… but they could give everyone a $2/hr raise, which isn’t trivial, and sustain themselves at that level for FIVE YEARS on the current excess.
Another option is to give everyone a bonus; doing the math on 3.4bn/167k workers, is around 20k each; even if they “only” gave half of that back to the workers, a $10k bonus is pretty nice and one-time. There’s no excuse…
“But if you shared that money among all workers, they’d only get an extra 50 cents per hour!!!” - some tool defending corporate profit
$3.4B / 167000 workers / 2000 hours = $10.18/hr raise, which is quite substantial.
True, but that would only be for one year. What about after that? Take the raise away? They don’t do $3.4b stock buy backs every year I imagine.
That’s just the exorbitant profit that they put into stock buy backs. And if they spent half of that on buybacks and gave every employee a 10k bonus I’m sure opinions of them would be a lot more favourable.
They could easily cut back some of their “profit” to pay people better
Yes, I don’t disagree that it should have gone to employees, just wanted to be clear that $10 an hour wasn’t quite accurate. I’m sure a one time yearly bonus would be just as much appreciated and needed.
They also paused stock dividends for COVID 3 years ago and only resumed it now at 9¢ instead of 38¢
And their 2022 gross profit was nearly 21 billion dollars. That’s an extra 60 dollars an hour for every employee
They have the money.
No… but they could give everyone a $2/hr raise, which isn’t trivial, and sustain themselves at that level for FIVE YEARS on the current excess.
Another option is to give everyone a bonus; doing the math on 3.4bn/167k workers, is around 20k each; even if they “only” gave half of that back to the workers, a $10k bonus is pretty nice and one-time. There’s no excuse…