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A lot of people think that companies aren't paying their employees well because they're greedily hording cash and if they'd just give that cash to their employe
by jerf 4y ago
A lot of people think that companies aren't paying their employees well because they're greedily hording cash and if they'd just give that cash to their employees, wealth problems would be solved. I would suggest to these people to spend some time looking at the largest companies in the world, taking their profits for the year, and dividing by the number of employees they have. I have done this exercise a few times. It will open your eyes about a lot of things w.r.t. business.
We here on HN are the ones who need to do this most of all because we work in the industries and companies that have for the last 10 years actually made enough money that the division results in something significant. This is not the norm. You can easily end up with values in the hundreds of dollars of profit/employee for a more normal industry. Even if the profits were 100% shared, we aren't necessarily talking about pulling people out of poverty or something.
The parasite class in society is smaller than you think, percentage-wise. Quite a lot of us go to supporting just one of them. I think getting rid of them would be a great boon... but not because simply redistributing their wealth would solve very much. The real problem they create is that they steal $X dollars and end up creating second-order effects that mean $X·Y dollars of wealth are never created in the first place, where Y is pretty significant.
- rightbyte 4y agoFor Amazon 2021 it seems like quite alot though. 33,3 billion USD profits/1,622,000 employees = 20k USD/employee The median employee made 29k in 2020. https://www.businessinsider.com/amazon-employee-salary-pay-median-worker-compensation-compared-jeff-bezos-2021-4?r=US&IR=T https://www.businessinsider.com/amazon-employee-salary-pay-m...
- queuebert 4y agoMaybe they have a lot of part-time employees.
- c22 4y agoI just tried this with 10 random companies from the tail end of the s&p 500, I didn't cherry pick anything: 2021 profit # employees profit/employee DISH Network Corporation $ 6.143B 16,000 383,937 FOX Corporation $12.909B 9,000 1,433,333 Wynn Resorts Limited $ 1.205B 30,200 39,735 American Airlines Group $ 2.046B 123,400 16,580 Bath & Body Works Inc $ 3.096B 92,300 33,542 Hasbro Inc $ 6.42B 5,600 1,146,428 Advance Auto Parts Inc $ 4.929B 68,000 72,485 MGM Resorts International $ 9.68B 74,500 129,932 Hormel Foods Corporation $ 1.928B 20,000 96,400 Paycom Software Inc $ 0.89B 5,385 165,273