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this post was submitted on 26 Mar 2024
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Google tells me:
They were fined $300,000. So less than one employees' worth of revenue.
Cost of doing business, as usual.
Fined $300K, but also have to give up $1.5M in profit for the 10 kids. $150,000 per kid, or, you know, 1/2 of the revenue they generated. ;)
Well I'm sure a company with ethics, like John Deere probably, will stop doing business with Tuff Torq now. Definitely.
No, they'll just re-negotiate their contract to get a better deal causing Tuff Torque to treat their remaining employees worse.
Or owner bankrupts tuff torq, gives himself a termination bonus, then makes a new LLC called Tough Tork
Then his grand child does the same thing 30 years later to Tough Torgue
Honestly, they probably will. John Deere is really shitty ethically speaking with their stance on right to repair but they have a very strict supplier code of conduct. I used to work for a place that was one of their suppliers and our contract with them was far more strict than with any of our other customers. It mostly included things focused on employee welfare at the suppliers site. I'm going to see if I can get a hold of it today but posting it would probably violate confidentiality and this is an easily doxable account so don't expect me to post it wholesale.
Also this place just got a bunch of bad press while being associated with Deere while Deere currently has enough bad press of their own. They're going to come down on them hard which almost certainly means just cutting them off because it isn't like a company as big as Deere is going to struggle to find eager suppliers.
They would actually just hire adults, who cost slightly more if they are desperate. They will continue production at 100%
Could you explain what exactly "revenue per employee ratio" means? My thought would be that this is the value the average employee creates for the company minus the cost of employment per year, is that correct?
It's just revenue divided by number of employees
Revenue is all the money the company makes, before any costs
Revenue per employee is that amount divided by the number of employee
The after costs amount would be profit per employee
I think it's 160M / 500+ employees.