Paris. The managers of French companies in the CAC 40 stock index earned on average 130 times more in 2022 than the average salary of the workers in the companies they manage, an Oxfam study revealed on Tuesday, denouncing an “indecent” pay gap.
“The wealth produced continues to grow” in the CAC 40 companies, but “this redistribution of wealth is not equitable,” Oxfam warned in its report “Cash 40: many millions for a few.”
In 2022, CAC 40 leaders earned on average 130 times more than their employees, that is, an increase of 17 percent since 2019 (111 times more), indicates the association. In 1979, the heads of CAC 40 “only earned on average 40 times more than the minimum wage,” he adds.
These gaps are explained, according to the NGO, by the “disproportionate and disconnected income of the leaders.”
In 2022, these leaders earned an average of 6.66 million euros (7.08 million dollars), or 27 percent more than three years before. Workers’ wages only increased 9 percent.
The association calls for the establishment of a maximum salary for leaders, with a cap of 20 times the company’s average salary.
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– 2024-05-07 02:26:44
