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> Well yeah, when a company is successful, compensation rises. Only for the C-suite apparently. > When the car company does really well, they make a ton of mo
by mulmen 3y ago
> Well yeah, when a company is successful, compensation rises.
Only for the C-suite apparently.
> When the car company does really well, they make a ton of money, when it does poorly, they make almost nothing.
That’s already how it works. Workers took pay cuts in 2008 to keep the companies going. It worked and now the UAW is asking for the same pay recovery that the C-suite already received.
- refurb 3y ago> Only for the C-suite apparently. Seems like you missed the point entirely, but ok. But anyways, that's false, US autoworkers have a profit sharing component to compensation. https://www.freep.com/story/money/cars/general-motors/2023/01/31/gm-uaw-profit-sharing-checks/69853383007/ https://www.freep.com/story/money/cars/general-motors/2023/0... > That’s already how it works. Workers took pay cuts in 2008 to keep the companies going. It worked and now the UAW is asking for the same pay recovery that the C-suite already received. Workers did not take pay cuts in 2008, the autoworker unions actually created a multi-tier compensation structure that protected existing union workers (surprise!) and penalized all the new hires. And CEO compensation, at least at GM dropped by ~80% after the 2008 crash. https://www.reuters.com/article/us-gm-compensation-idUSTRE73K5SD20110421 https://www.reuters.com/article/us-gm-compensation-idUSTRE73...