The world’s best airline is paying staff a bonus of 8 months’ salary after record annual net profit of $1.98 billion

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• dhcmrlchtdj__@lemmy.world ⁨11⁩ ⁨months⁩ ago

  Singapore Airlines

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  • Brunbrun6766@lemmy.world ⁨11⁩ ⁨months⁩ ago

    Thank you, fuck these headlines (not the OP, the news outlet

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• davidagain@lemmy.world ⁨11⁩ ⁨months⁩ ago

  I mean, I’d heard that this is how the labour market is supposed to work in theory, but I didn’t realise that some CEOs were actually doing it. Corporate America does NOT want you to think about this.

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  • BassTurd@lemmy.world ⁨11⁩ ⁨months⁩ ago

    I recently started at a private company that does profit sharing through ESOP. This year to all invested employees, so those more than ~1yr, they contributed around 30% of their annual salary in stock to their retirement. The private stock price rose about 32% from last year as well. On average the stock goes up 20%+ and the contributions have been around 18%. The founder and IG CEO found that companies that have an ESOP grow faster than others, and are happier. It takes 6 years for full investment, but after that, when you leave, they pay out your shares at that stock price, over a few payments I believe.

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    • fluckx@lemmy.world ⁨11⁩ ⁨months⁩ ago

      I bet it helps with employee retention as well.

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    • ChillPenguin@lemmy.world ⁨11⁩ ⁨months⁩ ago

      I wasn’t a believer when I started at an ESOP. But looking at my retirement funds after working for 8 years at the company. Then comparing it to friends who were given shares of large public companies and making maybe like 10k over 4 years. Absolutely worth it.

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  • DessertStorms@kbin.social ⁨11⁩ ⁨months⁩ ago

    And this is like tip of the iceberg bare minimum type shit, it's not even suggesting workers own the means of production or anything that radical, all it is is paying employees a more appropriate share of the profits (the company is still making an obscene amount of that profit, and the employees are still under paid for their labour, it's how the pyramid scheme we call capitalism works, but this is proof that even while continuing to roll in billions, other employers don't have to be keeping their employees on poverty wages, they choose to).

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    • Emmie@lemm.ee ⁨11⁩ ⁨months⁩ ago

      Why would workers own the means of production if they didn’t set up the business in the first place? It’s just a hired labour. If you hire someone to do something this doesn’t mean they should suddenly have a part of that thing.

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• Whirling_Cloudburst@lemmy.world ⁨11⁩ ⁨months⁩ ago

  Meanwhile, Boeing is cutting safety regulations to squeeze out more profits while their planes are literally falling apart in the sky.

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  • Wogi@lemmy.world ⁨11⁩ ⁨months⁩ ago

    Woah careful buddy, don’t criticize too hard or you might off yourself

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    • motor_spirit@lemmy.world ⁨11⁩ ⁨months⁩ ago

      Epstein-Boeing syndrome

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  • Jambalaya@lemmy.zip ⁨11⁩ ⁨months⁩ ago

    This is an airline, not a manufacturer? So I don’t really see the connection here.

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  • douglasg14b@lemmy.world ⁨11⁩ ⁨months⁩ ago

    Oops, that’s deadly, material right here.

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• Bluefalcon@discuss.tchncs.de ⁨11⁩ ⁨months⁩ ago

  Happy the employees can share in the surplus. Very rare.

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• BigMacHole@lemm.ee ⁨11⁩ ⁨months⁩ ago

  This is SOCIALISM!

  -Republicans.

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  • recapitated@lemmy.world ⁨11⁩ ⁨months⁩ ago

    Not if a business is in control of it

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• partial_accumen@lemmy.world ⁨11⁩ ⁨months⁩ ago

  But…but…what about the shareholders?! /s

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• whyalone@lemm.ee ⁨11⁩ ⁨months⁩ ago

  but, what about those poor shareholders? did they get their 5th yacht? what an abomination to pay extra the people that actually are making money in a company.

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