For Immediate Release

Contact: 

Christy Setzer 202-730-7349
Marcus Mrowka 202-730-7759

SEIU to Citigroup: Ensure Raises Go To Workers, Not Top Execs

WASHINGTON - Today,
the Service Employees International Union released a statement from
Secretary-Treasurer Anna Burger, on news that Citigroup is raising
salaries by as much as 50 percent for investment bankers and other top
executives, to accommodate for smaller annual bonuses. According to the
New York Times, “Legal and risk management employees,
as well as those in the credit card and consumer banking units, whose
pay is typically skewed toward salary, rather than bonuses, are
expected to receive smaller increases.”

Said Burger:  “Color us skeptical, but not
surprised: The top dogs at a company who took three taxpayer-funded
bailout packages worth $45 billion, while wrecking the economy and
keeping the bulk of its employees at near-poverty levels, have decided
to reward themselves once more. Unfortunately, not all raises are
created equal.

SCROLL TO CONTINUE WITH CONTENT

The media landscape is changing fast

Our news team is changing too as we work hard to bring you the news that matters most.

Change is coming. And we've got it covered.

Please donate to our 2019 Mid-Year Campaign today.

“Citigroup needs to commit to give any new raises to
front-line bank employees, who struggle just to make ends meet while
dealing with the rising costs of healthcare, not top executives who
have contributed to this mess.

“America’s big banks stand out as a startling example of an
era of corporate excess that needs to come to an end if we’re going to
rebuild an economy with strength that can last. By passing the Employee
Free Choice Act, we can begin to build an economy that doesn’t just
work for people in the top floor executive suites.”

###

We want a more open and sharing world.

That's why our content is free. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. How? Nonprofit. Independent. Reader-supported.

All of our original content is published under Creative Commons—allowing (and encouraging) our articles to be republished freely anywhere. In addition to the traffic and reach our content generates on our site, the multiplying impact of our work is huge and growing as our articles flourish across the Internet and are republished by other large and small online and print outlets around the world.

Several times a year we run brief campaigns to ask our readers to pitch in—and thousands of small donations fund our newsroom and allow us to continue publishing. Our 2019 Mid-Year Campaign is underway. Can you help? We can't do it without you.

Please select a donation method:



With 2 million members in Canada, the United States and Puerto Rico, SEIU is the fastest-growing union in the Americas. Focused on uniting workers in healthcare, public services and property services, SEIU members are winning better wages, healthcare and more secure jobs for our communities, while uniting their strength with their counterparts around the world to help ensure that workers—not just corporations and CEOs—benefit from today's global economy.

Share This Article

More in: