California minimum wage hike hits L.A. apparel industry. "The exodus has begun"

You clearly have no idea what you are talking about. Please, please, point me to the clothing company making billions a year. You'll be hard-pressed to find one making a profit of a single billion a year.

As an example, Nike became the most valuable brand in the world in 2015 with a net income of $865 million. $865 million sounds like a lot. They can give some back to the workers right? I suggest you think about the scale of Nike. Nike employs 32,800 people directly and contracts out to another 800,000. I guess they could give $1,000 to each employee. Over the course of a 2,000 hour work year, that is a $0.50 cent an hour raise. Fifty cents.

Now, this is Nike, with record profits. What about Nordstroms? They put out a profit of about $260 million. They directly employ about 75,000 people. That is about $1.73/hr raise. If you get out to its contractors, it is substantially less. Oh, and Nordstroms is considered one of the best places to work. Especially in its industry.

We can do the math for Nordstrom's. Here is their glassdoor page. 10% of their reported work force makes $11.80 an hour. So lets assume 7,500 employees go from making $23,600 a year to $30,000. That is $6,400 times 7,500. $48,000,000. That is 20% of their profit to raise the wages of just 10% of their work force.

Works through magic.

/r/news Thread Parent Link - latimes.com