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Top CEOs received 9% pay rise in 2022, employees took 3% pay cut

Women and girls put in 380 billion hours of unpaid care work per month, often forcing them to work reduced paid hours or drop out of the workforce altogether. Oxfam's interim Executive Director called for governments to introduce top rates of tax of at least 75% on super-rich bosses to discourage sky-high executive pay and windfall taxes on excessive corporate profits

Source | | ET Online

A single Indian executive makes more in just four hours than an average worker earns in a year, a new Oxfam report has found.

Top CEOs around the world, including India, received a real-term pay rise of 9 per cent in 2022, while mid-career staff worldwide took a 3 per cent pay cut during the same period, the report showed.

Around 150 of the top-paid executives in India received $1 million on average last year, a real-term pay rise of 2 per cent since 2021.

“While corporate bosses are telling us we need to keep wages down, they’re giving themselves and their shareholders massive payouts. Most people are working longer for less and can’t keep up with the cost of living,” said Amitabh Behar, Oxfam International’s interim Executive Director.

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