524
How Long It Takes the Largest Companies in America to Make One Employee's Average Annual Salary
(lemmy.world)
Found on imgur https://imgur.io/gallery/gqItf8e
this post was submitted on 15 Nov 2023
524 points (93.4% liked)
Work Reform
9966 readers
22 users here now
A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.
Our Philosophies:
- All workers must be paid a living wage for their labor.
- Income inequality is the main cause of lower living standards.
- Workers must join together and fight back for what is rightfully theirs.
- We must not be divided and conquered. Workers gain the most when they focus on unifying issues.
Our Goals
- Higher wages for underpaid workers.
- Better worker representation, including but not limited to unions.
- Better and fewer working hours.
- Stimulating a massive wave of worker organizing in the United States and beyond.
- Organizing and supporting political causes and campaigns that put workers first.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
would be more interesting to see how much more could those companies pay their employees if their profit was evenly distributed among them
Would need to make sure to exclude costs like executive "compensation", stock buy backs, or any other methods used to artificially decrease profits to avoid taxes.
Stock buybacks don't reduce profit for the company. They are not accounted as an expense that offsets income. Investors pay capital gains tax instead of income tax that they would pay on an equivalent dividend, which is probably what you are thinking of.
Net revenue, gross profit, operating income, EBITDA, and (net) profit are some well understood measures that take various things into account. E.g. net revenue subtracts the cost of inventory, but it doesn't subtract wages, so it's probably a good starting point for a discussion on redistributing earnings among workers.
It really depends on how much it costs them to do business. Payroll is only a part of the cost to do business. Companies like Walmart have massive real estate holdings which likely take a significant chunk of their revenue to pay off.
Not to mention the small matter of cost of goods sold
Are you referring to stores and warehouses or do you mean they dabble in the real estate market?
Stores and warehouses, obviously.
And walls
Ah, so these “massive real estate holdings” cost virtually nothing to them in construction costs, and are designed to require as little maintenance as humanly possible. In addition, their tax obligations on these real estate holdings are virtually nonexistent due to the severely discounted tax obligation they have for “bringing jobs to the area” (even though those jobs are shit). City and county governments fall all over themselves to give them as little tax obligation as possible.
Their “real estate holdings” are as much a drop in the bucket as employee pay.
It was a single example. But they also have to heat, cool, and power their enormous store areas, warehouses, frozen warehouses. There are absolutely lots of costs that big companies must cover besides just payroll.