Monday, April 18, 2016

Raises For CEOs, Layoffs For We The People

Here is yet another example of a global trend:

BP Chief Executive Officer Bob Dudley is due to receive $19.6 million in pay, a 20 percent raise, even after the company lost a record $6.4 billion and laid off 5,000 workers last year.

The London-based energy giant, which operates the BP Whiting Refinery on Lake Michigan, announced another 7,000 layoffs worldwide so far this year in response to a huge drop in the price of crude oil. Dudley is in line to be paid 280 times as much as workers at the Whiting refinery, who earn around $70,000 a year on average, according to the United Steelworkers union.

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So bye-bye to high paying jobs for We The People.

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