The world economy is suffering hard from this worldwide economic crisis. Hundreds of companies around the globe are in turmoil. Some have closed down and majority is struggling to survive. One of the reasons of this chaos is the misunderstanding between the management and employees regarding work benefits, and that is to include salaries. Multinational companies are trying to save money in order to prevent bankruptcy. As a result, employee’s benefits and salaries are affected and some are even terminated from their jobs. This has lead to numerous strikes and work stoppages as employees protest for their rights as workers. Some have even turned violent resulting to injuries and worst, deaths.
What needs to be done to prevent this? Every country has its own wage laws which protect the workers from unjust work practices from unscrupulous companies. This law sets particular wage standards and benefits for the workers and for companies to follow. However, it differs from different countries worldwide. Some have high standards and some have low standards. Due to this difference, a lot of companies transferred their factories to countries where low standards of wages are implemented. This practice has become common for most multinational companies in order for them to increase their profits. Whether it is good or bad, we must bear in mind that as workers we still deserve to have our rights for better benefits from our companies.
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