> That’s already how it works. Workers took pay cuts in 2008 to keep the companies going. It worked and now the UAW is asking for the same pay recovery that the C-suite already received.
Workers did not take pay cuts in 2008, the autoworker unions actually created a multi-tier compensation structure that protected existing union workers (surprise!) and penalized all the new hires.
And CEO compensation, at least at GM dropped by ~80% after the 2008 crash.
Seems like you missed the point entirely, but ok.
But anyways, that's false, US autoworkers have a profit sharing component to compensation.
https://www.freep.com/story/money/cars/general-motors/2023/0...
> That’s already how it works. Workers took pay cuts in 2008 to keep the companies going. It worked and now the UAW is asking for the same pay recovery that the C-suite already received.
Workers did not take pay cuts in 2008, the autoworker unions actually created a multi-tier compensation structure that protected existing union workers (surprise!) and penalized all the new hires.
And CEO compensation, at least at GM dropped by ~80% after the 2008 crash.
https://www.reuters.com/article/us-gm-compensation-idUSTRE73...