this post was submitted on 24 Apr 2024
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Work Reform

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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

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The Basque Country’s Mondragón Corporation is the globe’s largest industrial co-operative, with workers paying for the right to share in its profits – and its losses. In return for giving more to their employer, they expect more back.

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[–] jpreston2005@lemmy.world 6 points 6 months ago

The salary differential between the highest and lowest paid workers in Mondragón, for example, remains about six to one; for the largest 500 listed companies in the US, the gap is closer to 272 to one. At the year end, members of Mondragón’s co-operatives also decide collectively on whether they should pay themselves bonuses and, if so, how much. This profit-sharing comes in addition to a base pay rate that, on average, is 40% above Spain’s minimum wage.

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