Work Reform

10013 readers

313 users here now

A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

Our Philosophies:

All workers must be paid a living wage for their labor.
Income inequality is the main cause of lower living standards.
Workers must join together and fight back for what is rightfully theirs.
We must not be divided and conquered. Workers gain the most when they focus on unifying issues.

Our Goals

Higher wages for underpaid workers.
Better worker representation, including but not limited to unions.
Better and fewer working hours.
Stimulating a massive wave of worker organizing in the United States and beyond.
Organizing and supporting political causes and campaigns that put workers first.

founded 1 year ago

MODERATORS

seeCseas

[email protected]

TinMod

863

A billionaire wrote this letter to Google a year ago. How likely is that Google's layoffs and actions since then are at least partly because of this? (lemmy.world)

submitted 10 months ago by lledrtx to c/workreform

207 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 43 points 10 months ago (2 children)

The Children's Investment Fund Management (TCI) is not a charity, it is a hedgefund. Even this letter was sent on behalf of TCI. They're apparently one of the most activist investors out there. And not activism in a good way, their only focus is maximizing profits. So activism means: demanding lay-offs, doing unsolicited take-overs of other companies, etc. And then after a few years dumping the company again. They themselves probably have all sorts of thoughts about how they play an important function in an economy because they are ruthless and force changes in the markets. To put 'children's' in the name is just a scam that aims to make them sound innocent. But just this fact tells you a lot about how these people operate. Source: https://en.wikipedia.org/wiki/The_Children%27s_Investment_Fund_Management

[–] jaybone 8 points 10 months ago

The Human Fund

[–] iAvicenna 7 points 10 months ago* (last edited 10 months ago)

Yes though initially it was contractually giving certain parts of its profit to children's fund foundation which existed before TCI and was a charity. After his divorce though the contractual donation was apparently cancelled. The aims written for the foundation all look nice but some are vaguely termed and I don't know to what effect were they able to (or try to) achieve it.

https://en.m.wikipedia.org/wiki/The_Children%27s_Investment_Fund_Foundation