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How Long It Takes the Largest Companies in America to Make One Employee's Average Annual Salary
(lemmy.world)
Found on imgur https://imgur.io/gallery/gqItf8e
this post was submitted on 15 Nov 2023
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Work Reform
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would be more interesting to see how much more could those companies pay their employees if their profit was evenly distributed among them
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.
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.
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.
$550 per month is a lot for those making the least. Also about $3.17/hr.
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.
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.)