By Heather Timmons and David Gaffen WASHINGTON (Reuters) - When the CEO gets a 40% raise, what do the workers deserve? That question is at the heart ...
WASHINGTON - When the CEO gets a 40% raise, what do the workers deserve?
UAW President Shawn Fain initially asked for a 40% increase in worker's pay over the next four years - a figure based off an approximately 40% increase in CEO pay at the companies over the last four years at a time of stable profits for two of the three automakers.CEO pay and benefits have skyrocketed in recent decades, but worker pay has not kept pace.
In contrast, some workers for the Big Three automakers who were protesting on the Ohio to Michigan highway this week said they needed to work two jobs to survive. As the strikes began last week, Biden echoed Fain, saying automakers should offer more of the share of their profits to workers. But the White House has little leverage besides the bully pulpit and is studying how to stave off the economic impact of a long-term walkout instead.
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UAW strikes at automakers highlight skyrocketing US CEO payThat question is at the heart of the United Auto Workers union's strikes at assembly plants owned by Ford, General Motors and Chrysler parent Stellantis. UAW President Shawn Fain initially asked for a 40% increase in worker's pay over the next four years - a figure based off an approximately 40% increase in CEO pay at the companies over the last four years at a time of stable profits for two of the three automakers. CEO pay and benefits have skyrocketed in recent decades, but worker pay has not kept pace.
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