By now, we’re all familiar with the fact that the top 100 companies have spent billions of dollars a year on clothing.
The question is, how much of that is for their workers?
That’s the question that the Center for American Progress is asking in a new report, which examines the top 20 largest U.S. corporations in terms of the percentage of their total revenue spent on wages and benefits.
The data, compiled by The Upshot’s Jesse Smith, shows that the companies on the list are spending more than $2 trillion a year to hire employees.
The report, released Tuesday, breaks down the companies into five broad categories, with the most important one being “the biggest.”
“For every $1 billion in spending on wages, benefits, and employee benefits, the top 10 companies paid a collective $2,872,000 in wages and salaries to their employees in 2017,” Smith wrote.
Companies that have paid workers more than 10 times their full salary are “the largest winners,” with nearly half of the money coming from the top companies.
Companies that have only paid their employees the minimum wage are the least profitable.
“The top 10 top 10 CEOs made over $1.3 trillion last year,” Smith writes.
“The 10 largest CEOs of the top 50 U.K. companies earned $1,711,000,000 on their salaries last year, which is nearly three times more than the average wage of their workers.” “
This means that the CEOs of these companies are making money off their employees,” he writes.
“The 10 largest CEOs of the top 50 U.K. companies earned $1,711,000,000 on their salaries last year, which is nearly three times more than the average wage of their workers.”
The data, Smith writes, also reveals that the “top 10 largest U,S.
companies paid over $3.3 billion to employees in wages last year.”
Smith says that “a handful” of companies have also spent billions to buy back stock in their companies, which, according to the report, means that “they are buying back stock at a rapid pace.”
But even as companies have invested billions to hire and train their workers, Smith says that workers are still being paid “only about 30 cents for every dollar spent on compensation.”
“This is a clear and disturbing reminder of how little has changed since the recession,” Smith said.
The top 20 companies that have spent the most on wages in 2017:1.
General Electric 5.
FacebookThe bottom 20 companies:1) Apple 2) Walmart 3) Nike 4) General Electric, Verizon 5) Microsoft 6) Google 7) IBM 8) Starbucks 9) Verizon 10) FacebookThe report, titled The 10 Most Powerful Companies in the World, shows a startling lack of progress for the U.