August, 15 2013, 12:00am EDT
For Immediate Release
Contact:
Lynsey Kryzwick: 646.200.5311, 917.683.4474
Derrick Plummer: 202.251.9459
Walmart Worker Reacts to Weak Q2 Earnings Report
WASHINGTON
Walmart's second quarter sales report shows the continuation of negative same store sales. In response, OUR Walmart member Larry Born, who has worked at Walmart in Crestwood, IL for over three years, issued the following statement:
"Today's numbers make it clear that Walmart's labor practices aren't just hurting workers like me--they're also hurting business. Instead of listening to employees who raise concerns about working conditions and their impact on sales and the company's reputation, Walmart has tried to suppress our fundamental right to speak out for better jobs by firing and disciplining many of us who simply want what's best for our families and for the company.
"Now major investors are divesting from the company as a direct result of its labor practices, and Walmart's urban expansion efforts are facing resistance from cities like Washington, DC that don't want to bring Walmart values into their communities. Until Walmart shows a real commitment to creating good jobs that can support a family and strengthen local economies, the company will continue to face roadblocks in this key part of its business strategy.
"Similarly, while associates struggle to support their families as a result of erratic and inadequate hours, Walmart is receiving the lowest customer satisfaction scores compared to other supermarkets,thanks to the empty shelves and long checkout lines caused by understaffing. At the international level, costs related to Walmart's violations of the Foreign Corrupt Practices Act are sky-high, and the company's reputation with the public and with investors has been seriously damaged by its refusal to join other retailers in committing to improve safety at supplier factories in Bangladesh, where Walmart was found to have procured clothing as recently as 2012 in the factory collapse that killed over 1000 garment workers.
"If Walmart wants to reverse these trends, the company should start by listening to its associates. With $16 billion in profits every year, Walmart can easily afford to increase pay and access to full-time hours so that we can make our stores great places to shop and so that every Walmart worker can support their family--without relying on public assistance. These commonsense changes will help repair the company's image, lift its bottom-line, and strengthen our entire economy."
OUR Walmart works to ensure that every Associate, regardless of his or her title, age, race, or sex, is respected at Walmart. We join together to offer strength and support in addressing the challenges that arise in our stores and our company everyday.
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In the 1980s, said Warren corporations began placing the latter group above all, adopting "the belief that their only legitimate and legal purpose was 'maximizing shareholder value.'"
That view was further cemented in 1997 when the Business Roundtable, a lobbying group that represents chief executives across the country, declared that the "principal objective of a business enterprise is to generate economic returns to its owners."
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The Accountable Capitalism Act would require:
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Congressman Mark Pocan (D-Wis.) also welcomed the rulings and sent "a big thank you to Lina Khan and her team at the FTC."
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