Posted this a couple weeks ago here, however I feel like this needs a lot more attention as it will help us show just how much money these companies are stealing from the workers.
Lets first look at Apple
Apple has 154,000 workers, so we take that number and multiply it by the $100 per hour raise, then multiply that by 2080 which is hours per work year if you work 40 hours a week for the 52 weeks.
154,000 x $100 x 2080 = $32,032,000,000. This is how much it would cost for them to pay their employees the $100 on top of current wages. Again this includes ALL employees and assumes they all work full 40 hours a week
Apple in 2021 has made a PROFIT of $94.7billion. After giving every worker a $100 per hour increase they will still be one of the most profitable companies out there. If they were to give away all of their profits that would be about $300 per person
This got me thinking. Just how greedy are these corporations. Since we always hear on the news that increasing wages will mean they will go bankrupt etc. So I went through the SP 100 to see what the numbers are
The spreadsheet is easy to read. Net Income which is profits after all expenses is in $ Billions, then the next three columns are the wage increases. The first is 25% reduction in Net Income, then half and finally if they made no profit and gave all the money to the workers, which is an extreme but its just there to show us the data
Red fill is negative, yellow is $10-$20 increase, light green is 20-50 and dark green is over 50. This of course carries over to the next columns I was just too lazy to change formatting rules
The above chart is the totals. AvgA is just the average of all the 25%/50/100 AvgB is the average based off the 16mil workers and the 776Bil profits, which I think is more accurate
NOTES to consider –
This considers that all employees are full time and work 2080 hours per year. However we all know that isn't true. There are many part time employees. There's also upper management and executives who definitely don't need another raise. That being said the employees can most likely get a higher wage.
However this doesn't take into account all of the employees such as contractors and outsourced workers, unless they are working directly for the company. Again I want to keep this simple without opening up Pandora's Box
All of the data is from Wikipedia. Most of it is 2020 some is 2021 and a very few is 2019 so its not 100% accurate. Even that being said this post only serves as a very very basic visualization. It shouldn't be used to draw any conclusions but I hope it inspires some people to dig deeper and get more accurate numbers.
There are also a lot of factors that should be considered in a real life scenario. Yes these corporations are evil but they do provide jobs and need to reinvest the money to grow so 100% of profits isn't feasible.
Some of the profits were negative so the workers would actually need to take a pay cut. Exxon is the extreme in this where workers would need a $37 cut to make up 25% of the losses. This is most likely due to international lockdowns dropping fuel use. Previous years they were in the positives
Conclusion –
These 99 companies reaked in profits of $776billion on the backs of 16million hard working people. The working class has been getting robbed. Now imagine the trillions we lost over the decades
That being said I'm not advocating these companies give out all their profits. The point I want to make is that they have the money and can offer a fair wage increase but they simple don't want to