According to new AFL-CIO Executive PayWatch data, CEO pay increased nearly 16 percent in 2014, while Walmart and the Waltons—heirs to the Walmart empire—continue to drive inequality nationwide.
Mega-retailer Walmart, highlighted in this year’s PayWatch, represents one of the most egregious examples of CEO-to-worker pay inequality. Walmart CEO Douglas McMillon is paid $9,323 an hour, while a new Walmart employee making $9 an hour would have to work 1,036 hours to earn what McMillon makes just 60 minutes. PayWatch also notes that six Walton family members have more wealth than 43 percent of America’s families combined.
“I made about $13,000 last year, working as many hours as the company would let me,” said Shannon Henderson, a Walmart employee and mother of two in Sacramento, California. “I work for the richest company in the world, and I can’t support my family without public assistance. That’s not right, and that’s why I’m not going to stop fighting for $15 and full-time.”
As Walmart’s annual shareholders meeting approaches, workers have announced their intention to propose a shareholder resolution that would rein in executive compensation and incentivize sustainable investment, such as fair wages and benefits for workers.