“Ten of the world’s largest apparel brands paid 74% of their profits to their shareholders in dividends and stock buybacks in 2019. This year 2.2 million workers in Bangladesh alone were affected when textile orders were cancelled. Factory shutdowns have lowered revenues in the country by an estimated $3 billion.
“Mining operations in Peru have been kept open despite high risks of infection among their employees. Reacting to the report, Oxfam International Executive Director, Chema Vera, said: “Covid-19 has been tragic for the many but good for a privileged few. The economic crisis we are suffering because of the pandemic has been fuelled by a rigged economic model. The world’s largest corporations are making billions at the expense of low wage workers and funnelling profits to shareholders and billionaires – a small group of largely white men in rich nations.
“Long term, Oxfam is asking policymakers and corporations to re-balance corporate purpose, profits and power away from exclusively benefiting executives and shareholders towards workers, suppliers, consumers and communities. A corporate reform agenda should ensure every worker is paid a living wage, has a safe place to work and a voice in the workplace before a single dividend is paid to shareholders.
France Dernières Nouvelles, France Actualités
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