logoalt Hacker News

miltonlosttoday at 1:59 PM3 repliesview on HN

They're just spending all they money they saved from the wage theft.


Replies

fmbbtoday at 2:41 PM

Wage theft is saving them tens of billions in the US every year. So they are hardly spending all of that for this!

atmavatartoday at 3:21 PM

I doubt it's close to everything they saved.

$1.5B is roughly the wage theft recovered between 2021-2023. It's estimated that more than $15B in wage theft occurs annually just from minimum wage shortfalls.

See: https://www.epi.org/publication/wage-theft-2021-23/

Keep in mind that wage theft is narrowly defined to include only blatantly illegal actions such as underpaying minimum wage, failing to pay overtime, requiring off-the-clock work, denying meal breaks, etc. It that doesn't even get into more general wage suppression via abusing visas, anti-poaching collusion with competitors (a favorite pastime of FANNG), and at-or-below inflation raise policies, among other things, which have caused wages to diverge from productivity over the last half century.