Technology

Tech firms conspire to drive down wages

From How Silicon Valley’s most celebrated CEOs conspired to drive down 100,000 tech engineers’ wages:

In early 2005, as demand for Silicon Valley engineers began booming, Apple’s Steve Jobs sealed a secret and illegal pact with Google’s Eric Schmidt to artificially push their workers wages lower by agreeing not to recruit each other’s employees, sharing wage scale information, and punishing violators.


The secret wage-theft agreements between Apple, Google, Intel, Adobe, Intuit, and Pixar (now owned by Disney) are described in court papers obtained by PandoDaily as “an overarching conspiracy” in violation of the Sherman Antitrust Act and the Clayton Antitrust Act, and at times it reads like something lifted straight out of the robber baron era that produced those laws.

And don’t forget how H1B visa’s essentially limit immigrants ability to change jobs for a better salary and drive down non-immigrant wages with a lower salary employees.

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