The Ready To-Wear Abercrombie & Fitch company, which has known its glory time in France at the end of the 2000s, is the most unequal US company according to the Annual AFL-CiO report, the main union center in the country.
Its CEO, French, wins 6,731 times more than the median of its employees. Specifically, its remuneration amounted last year at $ 17 million (14.5 million euros) when the average salary of its workers was only $ 2,531 per year.
This year, Abercrombie & Fitch reported results far superior to the forecasts for its first fiscal quarter, with a significant increase.
At the beginning of October 2023, the BBC had presented an investigation into the former CEO of the clothing brand between 1992 and 2014, Mike Jeffries, accused of exploiting men for sexual purposes.
A Netflix documentary that returned to this period had also portrayed the recruitment practices marked by racism and sexism. Français Horowitz at the head of the company was appointed in 2014 to straighten the image of the brand.
6,666 times more
It is closely followed by the recent CEO of Starbucks, Brian Niccol, in the ranking established by AFL-Ci. With a remuneration of $ 98 million (83.28 million euros), the head of the Cafes chain earns 6,666 times more than the median employees of his company, according to the calculations of the center of the Union.
The medium employee of Starbucks should have started working for the company at 4,643 a. C. Only to perceive what the CEO won in 2024, according to the center of the Union.
AFL-CIO points out that Starbucks employees often occupy part-time positions, which has the effect of extracting their remuneration down. The latter recently created an union and organized attacks to obtain salary increases.
The CEO of Nu Skin Enterprises continues (6,309 times the median employees), specialized in marketing, and the toy manufacturer Mattel (4,208 times the median), which produces in particular the Barbie.
+7% in a year
In general, the remuneration of the CEO of the first 500 US companies that appear in 7% in 2024 compared to the previous year, to reach an average of $ 18.9 million. This figure has increased by $ 6.5 million in ten years.
The medium employee should have started working in 1740 to win what a medium CEO received in 2024, observes AFL-CiO.
The big American bosses will also see their taxes lightened by the tax reduction program and the expenses taken by Donald Trump.
According to AFL-CiO calculations, the average CEO of a company in the S&P 500 will benefit from a tax reduction of $ 489,118, or 639 times higher than that of the American medium employee. The deficit for public finances is estimated at $ 738 million.
Source: BFM TV
