A warehouse worker at a large multi-national corporation has told senior executives to ‘be realistic’ about increases in salary, bonuses and dividend payouts, warning any rise could spark additional inflation and put unnecessary pressure on an already-heated economy.
“We wouldn’t want to do that, would we?” Lily Kapoor told a shareholder meeting today. Saying it was ‘unfortunately just the way things are right now’ Kapoor told the CEO and board members that they would need to keep any profit and salary rises to under one percent. “Anything more than that is going to put extra pressure on inflation and extra stress on already struggling businesses. I worry, as I’m sure you do too, about what that will mean for our economy. Sorry”.
She said she wished there was some magic way to create more money. “But as you know, in the end someone has to foot the bill. This is going to mean higher prices for consumers and it could tip some businesses over the edge. No-one wants that”.
She urged business leaders to be patient. “Nobody begrudges high-paid workers a pay increase, but right now we can’t afford it. Your turn will come, but for the next ten to twenty years, we just need you to sit tight”.