Earlier quoted context omitted.
> Is there a wage-thief who's doing it at scale? FAANG got caught having a wage cartel where poaching affected possible salaries between workers. They got a measly 50 million dollar fine. Wage theft pays off in america, and Amazon and Apple being trillion dollar companies proves it.
> FAANG got caught having a wage cartel I remember Apple and Google did. Was there a broader conspiracy? > got a measly 50 million dollar fine This $415mm settlement [1]? Its suit covered ”almost 65,000 employees who worked for the seven companies between 2005 and 2010.” The fine was thus about $6,400 per covered employee (about $8k in 2022 dollars). The alleged cut to “potential employee compensation [was] 10 percen…
I wrote FAANG cause I didn't remember all involved, which was my bad. It was Adobe, Apple Inc., Google, Intel, Intuit, Pixar, Lucasfilm and eBay that got caught in the anti trust suit.
Enough big players to seriously affect job opportunities and labour costs from rising.
> This $415mm settlement [1]?
That was the latest judge sentence, which I hadn't heard of, I can ammend my previous comment. The original sentences, affecting mostly the smaller players like Pixar where much smaller while the Apple and Google one kept being pushed back. 400 million is still quite low in exchange for a 5 year long wage freeze essentially as moving jobs is the best way to increase your salary.
The toal pay seems to be lower, 3,400 for Pixar, intuit and lucasfilm employees and only 5,770 for apple and google employees. Over a 5 year period thats a pretty low salary raise.
Considering a job change every 2 years can end up with almost 100% salary difference over a decade. That means in the 5 years, the salary raises saved the company up to 50% in salary costs.
With the headcount of both of those companies and their average salary. Even if the percentage of workers who did not move between companies, I would argue 400 million is still low.
I am also gonna ignore lawyer fees which are usually the only winners on such big lawsuits
https://en.wikipedia.org/wiki/High-Tech_Employee_Antitrust_L...