Thursday, July 24th16.6°C
21452

Crack corporate coffers and pay workers better, union head urges companies

OTTAWA - A prominent labour leader is calling out corporate Canada for relying on cheap labour like unpaid interns and temporary foreign workers while sitting on huge cash reserves and heaping pay on CEOs.

Jerry Dias, the president of Unifor, Canada's largest private-sector union, says it's ridiculous that corporate CEOs collect millions in salary while some of their staff members are poorly paid — if at all.

Meanwhile, the number of minimum wage and part-time jobs in Canada is steadily increasing, according to Statistics Canada.

And a recent study by the Canadian Centre for Policy Alternatives found that CEO pay for Canadian companies on the Toronto Stock Exchange grew 73 per cent between 1998 and 2012.

The International Monetary Fund also says Canadian companies have been accumulating cash reserves — so-called "dead money" — faster than any other country in the G7.

The controversy over temporary foreign workers has prompted Prime Minister Stephen Harper and Employment Minister Jason Kenney to chide companies for failing to raise wages or invest in employee training.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX15394.45+0.07
S&P CDNX1011.65-0.58
DJIA17083.80-2.83
Nasdaq4472.107-1.59
S&P 5001987.98+0.97
CDN Dollar0.9310+0.0003
Gold1297.50-7.00
Oil104.30-0.29
Lumber326.00+0.20
Natural Gas3.845-0.002

 
Okanagan Companies
Pacific Safety0.200.00
Knighthawk0.01-0.005
QHR Technologies Inc1.17+0.02
Cantex0.08+0.02
Anavex Life Sciences0.28-0.045
Metalex Ventures0.08+0.01
Russel Metals35.57-0.08
Copper Mountain Mining2.82+0.06
Colorado Resources0.205-0.01
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.19+0.01

 



22567

FEATURED Property
20172571271 Steele Road
4 bedrooms 4 baths
$469,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Labour shortage in BC

The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...

_








Member of BC Press Council


22097