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KentuckyWoman

(6,679 posts)
Mon Oct 25, 2021, 11:42 PM Oct 2021

It's just simple math.

A family member works for a rather large corporation. Currently 75,000 American employees with another 200,000 scattered around the globe. They touch at some point in the process, nearly every electronic transaction made in nearly every corner of the world.

In 2020, due to "pandemic downturn", no one got raises unless they switched job roles to a higher level. Even then the payrate was less that would have been given prior for the same role.

In 2021, due to "pandemic downturn", a few "superstars" were given less than half a percent raise while the vast majority got nothing. Some departments were consolidated and total US workforce went down by about 4%.

There is already word being sent that there will be no raises for 2022.

In the same period the top 6 people in the company have seen salary nearly double in some cases. The dividends paid to the 74 people or entities that own 96.2% of the stock have tripled.

My family member is in the lowest rung of salaried management. She makes NO salary decisions. Duties are being added all over and pay is not going up. There is no overtime permitted for hourly. When review time comes, upper management will knock down any good reviews in order to avoid raises. Someone on her staff she says busted a gut all year and earned a good raise. They let the "excellent" stand but only gave a 10 cent raise. It broke her heart to pass it on. Her people are sick of it and tell her they are out looking.

This is anecdotal. I can't give links without giving away the company ... but this is the norm all over. Working people just keep losing ground and the "haves" keep telling us they need more of the pie in order to pay us - or they tell us some other group is to blame - or they just tell us we are too lazy and should do this whatever thing to make more money they've already figured out will milk more from us and not provide a benefit.....

Such is life in Corporate America. The top of the company doubles salary, while giving the people working to create that wealth at best half a percent.





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Hoyt

(54,770 posts)
3. I think pay raises are, and will be more than, half a percent, especially at the lower levels.
Mon Oct 25, 2021, 11:59 PM
Oct 2021

Personally, I believe middle managers and many other workers making higher wages have been able to work at home, where maybe the benefits of not having to go into the office offset say a 5% or so pay raise.

I really don’t give a crud what the top guys are making as long they are keeping company viable/secure, benefits are decent, vast majority of workers are treated decently, etc.

I do realize there are exceptions, like your example. Hope those situations are resolved, or people are able to take advantage of a pretty good opportunity to register disgust by moving on.

I also hope people get some help from Biden’s BBB. Think they will.

SergeStorms

(19,193 posts)
4. They'll be losing ground for the next 2 years.
Tue Oct 26, 2021, 01:45 AM
Oct 2021

Inflation this year, and probably next, is going to shock many people. No raises for both years is seriously going to diminish their purchasing power. Lean years lie ahead.

Those at the top will always find ways to reward themselves for doing nothing more than maintaining the status quo. It's always, "hooray for me and to hell with everyone else".

Latest Discussions»General Discussion»It's just simple math.