Ralph Nader Urges Apple to Reduce Buybacks, Improve Wages: Report

Advertisement
By Reuters | Updated: 25 October 2014 11:06 IST

Consumer advocate Ralph Nader sent a letter to Apple Inc Chief Executive Officer Tim Cook urging the company to reduce its spending on share buybacks and use the money to raise wages, the Wall Street Journal reported on Friday.

The five-time presidential candidate wrote in a letter published by the paper that poverty wages and harmful conditions are "a consequence of tolerating outrageous stock buybacks."

Advertisement

"'Designed by Apple in California' has a nicer ring to it than 'assembled by workers paid about a dollar per hour, working 11-hour shifts, and sleeping eight to a room in the Jabil Circuit corporate dormitories in Wuxi, China'," wrote Nader in the letter dated Oct. 23.

Apple is one of the top customers of contract electronics maker Jabil JBL.N.

Apple declined to comment on Nader's letter, which echoes criticism from labor activists and right groups. Nader's critique comes as billionaire activist-investor Carl Icahn continues to urge the iPhone maker to buy back more shares using its $133 billion cash pile.

(Also See: Apple Posts Strong Quarterly Results on iPhone Sales)

The iPhone maker has drawn fire in the past over practices at its manufacturing partners, most of which are based in China.

Advertisement

A rash of suicides in 2010 at Foxconn, Apple's main manufacturer, prompted widespread scrutiny in 2011 of working conditions across its supply chain.

The iPhone maker has since stepped up audits of its manufacturing partners and enlisted the services of the Washington-based Fair Labor Association. The organization has conducted regular reviews and reported on improvements in areas such as overtime and pay while saying more could be done.

Advertisement

© Thomson Reuters 2014

 

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: Apple, BuyBacks, Laptops, Mobiles, PC, Tablets, Wages
Advertisement

Related Stories

Popular Mobile Brands
  1. Here's When Apple's 'Pro and Tell' Launch Event Takes Place
  2. Airtel Launches Three Voice-and-SMS-Only Prepaid Recharge Plans
  3. Oppo F35 Pro 5G Review: An 8,000mAh Battery and a Lot to Like
  4. Redmi K100 Will Launch on This Date: See Design, New Colourway
  5. Samsung Galaxy F70 5G With a 5,000mAh Battery Goes on Sale in India
  1. Samsung Galaxy F70 5G With 5,000mAh Battery, 50-Megapixel Camera Goes on Sale in India: Price, Offers
  2. Apple ‘Pro and Tell’ Event Set for Next Week; First MacBook With Touchscreen, New iPad Mini and More Expected to Launch
  3. Cysic Shuts Down Bridge After Attacker Illegally Creates 10 Million CYS Tokens
  4. JPM Coin Arrives on Ethereum as JPMorgan Expands Institutional Payments
  5. Vivo V80 FE Reportedly Spotted on BIS Certification Website, India Launch Seems Imminent
  6. Airtel’s New Recharges in India Announced: Rs. 185, Rs. 203 and Rs. 206 Voice-Only Plans Details
  7. Vivo X500 Ultra Leak Reveals Launch Timeline, Chipset, Display and Key Specifications
  8. iQOO Neo 12 Launch Date Announced; Design, Colour Options Teased
  9. Qubic Halts Chain as Attacker Exploits Weak Seeds to Drain 1,400 Wallets
  10. iPhone Duo Battery Capacity Revealed Days Before Foldable Goes on Sale
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2026. All rights reserved.