Pretty much what's in the title.
Here what a worker cooperative is, blatantly copied from somewhere else:
A worker cooperative is a type of business entity that is owned and controlled by its workers. Unlike traditional businesses where ownership and decision-making power might be concentrated in the hands of a few individuals or shareholders, in a worker cooperative, each worker-member has an equal say in the decision-making processes of the business. Here are some key characteristics of worker cooperatives:
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Democratic Control: Decisions are typically made on a one-member, one-vote basis, ensuring that all members have an equal voice in the cooperative's operations and policies.
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Shared Profits: Any profits generated by the cooperative are distributed among the worker-members based on a predetermined formula, which often takes into account hours worked or other contributions to the cooperative.
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Member Ownership: Worker-members typically make an initial investment to become a part of the cooperative, and in return, they receive a share of the cooperative's assets and earnings.
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Self-management: Many worker cooperatives operate on a self-management model, where workers take on various roles and responsibilities without a traditional hierarchical management structure.
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Commitment to Community: Worker cooperatives often have a strong commitment to their local communities and aim to provide good jobs, sustainable practices, and positive social impacts.
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Long-term Stability: Because they are not driven solely by profit motives and have a vested interest in the well-being of their members, worker cooperatives often prioritize long-term stability and sustainability over short-term gains.
Worker cooperatives can be found in various industries and sectors, from agriculture and manufacturing to services and retail. They offer an alternative business model that emphasizes worker empowerment, democratic governance, and community engagement.
This would be a good way to put power back into workers hands instead of employers, at least on paper… Any reason it isn't and how it could still be with some changes ?