FOR IMMEDIATE RELEASE: Monday, October 14, 2019
CONTACT: Taylor Campbell, 202-854-9571, [email protected]
WALMART ASSOCIATES REACT TO BERNIE SANDERS’ PLAN
TO GIVE WORKERS OWNERSHIP STAKES IN COMPANIES
NATIONWIDE — Today, Senator Bernie Sanders introduced his Corporate Accountability & Democracy plan, which calls for giving workers ownership stakes in their companies, banning buybacks, and requiring stock compensation of workers whose jobs are sent overseas. United for Respect leader and Walmart associate of 9 years Janie Grice issued the following statement:
“Working people in this country are hurting right now, and it’s because billionaires and corporations are sucking everything out of our economy. Retail workers have been out front, fighting to rebalance power in the economy with big, bold changes for a long time. We need a stake in the profits we help create and a seat at the table to better govern the companies we work for. It’s good to see candidates starting to stand with us for real structural change in corporate America.”
On Wednesday, Janie Grice will appear before the House Financial Services Committee Subcommittee on Investor Protection, Entrepreneurship and Capital Markets to testify in a hearing called, “Examining Corporate Priorities: The Impact of Stock Buybacks on Workers, Communities, and Investors.” Janie will be testifying on behalf of 1.5 million Walmart associates about the need to curb rampant inequality by regulating excessive buybacks, limiting corporate profits to executives and shareholders, and having worker representation on corporate boards.
Throughout the year, Walmart associates with United for Respect have been calling on the corporation to give them a seat on the board. In March 2019, Cyndi Murray, an associate of 19 years, testified in support of Senator Tammy Baldwin’s Reward Work Act. In June 2019, Senator Sanders attended Walmart’s annual shareholders meeting to speak in support of a historic proposal calling for hourly associates to have a seat on Walmart’s board. He was invited by Carolyn “Cat” Davis, a United for Respect leader and Walmart associate of 11 years, who filed the proposal.
In 2018, Janie Grice also filed a shareholder proposal that would reward Walmart associates for their dedication and commitment to the company by giving them a share of the profits from buybacks. Unsurprisingly, Walmart rejected all of the above proposals.
If you’re interested in speaking to a Walmart Associate, including Cyndi Murray or Janie Grice, please reach out to Taylor Campbell at taylo[email protected].