Labor and Jobs
Private equity-owned companies directly employ more than 11.7 million of workers in the United States, plus millions more around the world, and the number continues to grow as private equity firms are acquiring additional companies at a record pace. The industry manages $11 trillion in assets. Focused on growing cash flows at the companies they buy, private equity firms have often taken a low road approach and sought to reduce wages, benefits, and staffing at firms they acquire – with devastating consequences to workers, their families and entire communities.
The largest number of workers employed by private equity-owned companies are in low-wage industries – food service, retail, security, and health care – with large concentrations of workers of color.
We call on private equity firms to institute a set of standards to improve working conditions at the portfolio companies they own:
Click here to sign on to PESP’s platform for Labor Rights.
Click here to see the list of organizational signatories.
Download a copy of our Labor Rights platform here.