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19 Jan 2016

There is hidden workforce of 116 million in global supply chains of fifty companies, says International Trade Union Confederation

Key findings from the report include:

  • The cash holdings of 25 companies of $387 billion could increase the wages in their combined hidden workforce of 71.3 million by more than $5000 for a year;

  • The combined wealth of 24 companies in the US from including Amazon, Walmart and the Walt Disney company, could buy Canada;

  • Nine companies in Asia including Foxconn, Samsung and Woolworths have a combined revenue of $705 billion, the equivalent value of the UAE;

  • Seventeen companies in Europe including Siemens, Deutsche Post and G4S have a combined revenue of $789 billion, the equivalent value of Malaysia.

 ITUC has urged leaders at Davos to transform the business model of global companies and address inequality.