My own employer loves to do this kind of shit. Give raises under inflation? You got a raise! What are you complaining about? So what if year over year you are earning 1-2% less than the previous year?
If this happened to the company's EPS it would be the end of the goddamned world.
Fast Food complaining about the wage increase in California, and then all of a sudden a massive wave of $5 deals and value items pop up, but they can’t afford it, right?
Actually they do lose money on the $5 meals, that's why they're generally a temporary measure to try to trick customers to come back. And McDonald's posted a quarterly loss recently. But they dug that grave by raising all of their prices so much in the first place 😬
And I know that even though the exec and HR have moved on to the next point on their career arc, they've left an employer with a trashed reputation, unable to provide a service it used to, with a demoralised inefficient workforce.
Really worth it for that extra % point or so on wages.
The record profits are finally starting to come to an end as they've finally stepped well beyond the threshold of what average Americans will or can pay for basic things, so expect some job cuts. Heaven knows they can't go back to not making record profits. :P
Given the choice between giving one of our upper management who has failed on every level a 5000000 dollar raise this year and paying 50-100 of you a living wage, i'm afraid we're firing 1500 of you.
A friend of mine brought the report her company released to share holders into her review, the TA/HR woman she was meeting with LOST HER MIND and ended their time immediately. This is where we are, in the "How dare you use our data in your salary negotiation!!" days.
Lay people off then lay more people off when the job numbers look weak. Then only be willing to hire people for cheap because there's a recession for some reason.
Sounds like Amazon. They over hire and then over fire. They need folks for the labor plan but start giving out VTO. Depending on the cycle—- they won’t fire a dude that is abusing his position sexually cause they need people then they’ll fire someone for being next to someone filming on their phone
It's often a scam and a grift on BOTH ends. Those "record profits" are either being pocketed by executives or don't exist at all, reported simply to pump their stock so execs can dump it. Then they slash the workforce to keep the scam going as long as possible. This has been going on since the 80s.
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If this happened to the company's EPS it would be the end of the goddamned world.
https://www.ajc.com/news/business/profits-at-georgia-power-parent-southern-company-soar-as-ratepayers-feel-pain-of-rate-hikes/C5LYWKQOHBB4FITIVSR3TXVS3Y/
Employer told us how much they were struggling and so they'd have to cut pay and conditions.
We surprised them by tabling their corporate statement reporting their $200m+ profit.
Always do your homework.
*Most of us quit and went somewhere better.
Really worth it for that extra % point or so on wages.
Slow clap.