Saturday, July 5, 2008

Rate of Exploitation: Gooooing Up!

Google has announced they are nearly doubling the cost of their employee childcare program - from $33,000 to $57,000 a year. Responding to the flood of employee complaints over the rate hike (the reporter describes some parents weeping openly), Google co-founder Sergey Brin said he had no sympathy at all for the parents, and was tired of his employees feeling so entitled. Brin holds 13.6 billion dollars in shares of Google, and has a net worth of 18 billion (meaning with his shares he could pay for child care for 230,000 employees). This hike in rates amounts to a massive spike in the rate of exploitation for Google employees, who have effectively just had a thirty thousand dollar wage cut.