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Capitalism: Alphabet told that record profits must not concern workers
  • Vitaliy_KiselevVitaliy_Kiselev

    Google parent company Alphabet announced its fifth quarter in a row of record profits ($18.9 billion) and second straight quarter of record revenue ($65.1 billion) in October, but a company executive told employees that Google wouldn’t automatically adjust their salaries to account for inflation. According to CNBC, Google’s VP of compensation Frank Wagner told employees at a company all-hands meeting on December 7th that Google doesn’t “have any plans to do any type of across-the-board type adjustment” when asked about the inflation rate in the US.

    https://www.cnbc.com/2021/12/09/google-execs-tell-employees-they-wont-raise-pay-to-match-inflation.html

  • 2 Replies sorted by
  • firstbasefirstbase

    Incomes, in real terms, continue to drop, as they have for many years. This goes for just about anyone in the workforce.

  • Vitaliy_KiselevVitaliy_Kiselev

    @firstbase

    Post is not about it. Alphabet has enough money to rise salaries much more than inflation number. But they won't do it. Because... because they can, because ruling class is powerful.

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