McDonald’s is offering $41 million to its CEO as it fires him for an improper partnership. It’s the same McDonald’s who fail to pay a living wage for staff.
“New McDonald’s CEO Stephen Easterbrook is seeking a $42 million retirement package after discovering his relationship with an employer in breach of company policy. The scale of his salary places the widening gap between the salaries at the top and the bottom of the corporate ladder in a new focus.
According to an estimate by Equilar’s executive compensation analysts, the departure payment from Easterbrook amounts to $41.8 million, which includes six months of severance pay, potential cash-out options and other investments. And that number is in stock options that Easterbrook can now use in addition to $23.8 million.
Yeah, he’s moving away with a lot of money,’ says professor Stewart Schwab, an employment law specialist at Cornell Law School. And it plays out as part of the story of just, wow,[ the] 1% gets much more money than the rest of this economy’s jobs. .’
The latest reports from McDonald reveal that Easterbrook made $15.9 million in 2018. That’s 2.124 times more than a McDonald’s employee’s median income— a Hungarian part-time crew member. A U.S. crew member at McDonald’s is earning an average of $9 an hour, according to Glassdoor.
McDonald’s did not respond to questions from the NPR, including median salary inquiries in the United States.
A big story about income inequality and the reason for it is that top executives, and the CEO in general, have the bursting pay compared to the rank and file,’ says Schwab. And this is an example of it.’ In 2015, Easterbrook left McDonald’s, and industry watchers celebrated his leadership. During his attempts to revamp both the stores and the menu, the stock price of the fast food chain reached historic highs.
Yet Easterbrook has headed the organization because of the claim that men and executives were rampantly bullying women’s workers. In May, the staff in 13 U.S. cities criticized the low pay and the company’s handling of alleged sexual misconduct. (To be fair, his resignation does not include alleged harassment.) In the past couple of years, hundreds of McDonald’s employees have filed allegations of sexual harassment, all from innocuous assumptions and reprisals.
Their responses, Sharyn Tejani, president of Time’s Up Legal Defense Funds, who deals for women who report sexual harassment, said: “What we see from minimum wage workers all the time is that when they protest, reprisals are normal.
This is like missing shifts and losing your job and being punished, not being able to stay at your jobs. Yet… we have no frames,’ she said. She says. ‘ And if you comply
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