WASHINGTON, D.C. – U.S. Sen. Sherrod Brown (D-OH) today released an essay titled, “Laying Off Workers to Please Wall Street,” the second essay in his online series titled, “Wall Street’s War on Workers.” Brown plans to release several essays on Medium to explore how Wall Street undermines U.S. workers as he offers solutions to grow the middle class and restore the value of work. The second essay released today looks at Wall Street’s practice of laying off workers to cut costs and pad corporations’ bottom lines.
- Read “Laying Off Workers to Please Wall Street” HERE.
“As long as Wall Street analysts’ one-size-fits-all measure of corporate success continues to be cost-cutting, workers are at constant risk of losing their jobs. And as long as CEOs get paid based on stock prices instead of a company’s long-term success, workers will keep getting fired at profitable companies,” said Brown. “We need to break this cycle of greed between Wall Street and CEOs. Companies can’t be profitable without their workers.”
The first essay in the series, “Wall Street Doesn’t Want You to Get a Raise,” can be read HERE.
In March, Brown unveiled a plan to make hard work pay off for Ohioans. For more than a year, Brown and his office studied the challenges facing workers in Ohio and across the country and compiled a comprehensive agenda of solutions.
Brown has also introduced a podcast, “Canarycast,” featuring discussions on how to restore the value of work in America.