New Filing Shows Walmart’s CEO-to-Worker Pay Ratio Has Hit an Absurd Level

 

By Sahid Fawaz

We all know that many Walmart workers receive poverty pay. But when you look at the just-released ratio of pay by its CEO to its workers, you start to see how obscene greed really can be at this company.

CFO.com reports:

“Walmart CEO Doug McMillon was paid nearly 1,200 times the salary of the median Walmart worker in 2017, according to the company’s annual proxy statement.

McMillon’s total compensation rose 2% last year to $22.8 million, most of it — $15.7 million — coming from stock awards. He also drew a salary of $1.3 million and received incentive pay of $4.7 million.

The median Walmart worker’s salary was $19,177 — 0.015% of the CEO’s salary. The ratio to McMillon’s total compensation was 1,888 to 1.

Under a 2015 rule mandated by the Dodd-Frank Act, companies are now required to report their CEO pay in comparison to the median worker. To calculate its ratio, Walmart excluded about 90,000 employees outside of the U.S. — or about 3.9% of the total workforce — with the remaining 2.2 million workers determining the median compensation.”

For the rest of the article, visit CFO.com.

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