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Monday, August 5, 2013

Apple CEO's pay obscene next to employees

 
  PROGRESS AND PROMISE  

Apple storeComputer giant Apple could afford to drop a pay package worth $378 million on chief exec Tim Cook in 2011, his first year as CEO. But Apple can’t seem to afford to compensate the 42,000 employees at the company’s fabulously profitable retail stores for the time they spend every day waiting to get searched — for stolen goods — before they can leave the store premises. Two former Apple employees have just filed a class-action lawsuit to recoup those unpaid wages, estimated at about $1,500 per year. Apple retail stores, notes Forbes, “take in more money per square foot than any other United States retailer.” Yet Apple store employees take home on average only $25,000 a year.

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