this post was submitted on 15 Nov 2023
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Work Reform

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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.

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[–] general_kitten@sopuli.xyz 18 points 1 year ago (3 children)

would be more interesting to see how much more could those companies pay their employees if their profit was evenly distributed among them

[–] WalrusDragonOnABike@kbin.social 13 points 1 year ago (1 children)

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.

[–] singron@lemmy.world 5 points 1 year ago

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.

[–] Hillock@kbin.social 10 points 1 year ago (1 children)

Since most or even all of them are publicly traded companies it isn't that difficult to find out.

Walmart had a net income of 14 billion, they have roughly 2.1 million employees, that leaves each employee with an additional 6.6k for this year or roughly an additional 550 a month.

Doesn't sound a lot but that can be done without impacting any other business practices. And for some of the employees overseas that might be doubling their salaries.

[–] MNByChoice@midwest.social 7 points 1 year ago (1 children)

$550 per month is a lot for those making the least. Also about $3.17/hr.

[–] FordBeeblebrox@lemmy.world 10 points 1 year ago (1 children)

Considering a large portion of Walmart workers receive food stamps and other benefits due to low income, it would be a huge boost for those folks and lessen demand for assistance on local govts…but nah let’s keep all the money to pay for our drunk driving murder nights.

[–] MNByChoice@midwest.social 2 points 1 year ago

drunk driving murder nights.

Because many are not aware, one of Sam Walton's children is a notorious drunk that likes to drive and may have killed a few people (I am unclear how many.)

[–] Tb0n3@sh.itjust.works 8 points 1 year ago (2 children)

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.

[–] dice@programming.dev 4 points 1 year ago

Not to mention the small matter of cost of goods sold

[–] Remmock@kbin.social 2 points 1 year ago (1 children)

Are you referring to stores and warehouses or do you mean they dabble in the real estate market?

[–] Tb0n3@sh.itjust.works 3 points 1 year ago (2 children)

Stores and warehouses, obviously.

[–] Remmock@kbin.social 1 points 1 year ago (1 children)

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.

[–] Tb0n3@sh.itjust.works 1 points 1 year ago

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.