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Tag: “fifth third bank”

Janitors Call On Banks to Use Taxpayer Money to Create Jobs, Not Reward CEOs

By Kate Thomas on March 9, 2009 2:01 PM

Janitorscrossingstreet_web.jpgOn Thursday, hundreds of Chicago janitors and supporters rallied at Fifth Third Bank in Schaumburg to call for good jobs and an economic recovery that works for everyone, not just the people at the top. Janitors marched from Woodfield Mall to the bank, chanting loudly and holding purple banners reading "Value Work."

Fifth Third Bank took $3.4 billion in taxpayer-funded bailout money, and CEO Kevin Kabat was paid over $200,000--more than seven times the average teller's annual pay--for perks like country club dues, parking and estate planning. Fifth Third Bank's CEO also received a base salary increase from the year before, as well as stock and option awards valued at about $1.9 million on the days they were granted.

The average salary for a downtown janitor is about $1,950 a month, with suburban janitors making even less than that.

Janitor with Polish Sign.jpgThursday's march builds on momentum from the rally held earlier in the week, when 3,300 janitors marched through downtown Chicago to call on Bank of America and other banks to use federal bailout money to create jobs that will strengthen the economy, instead of paying executives excessive salaries and bonuses. Both rallies are part of an effort by SEIU Local 1 janitors and community supporters to call attention to low-wage workers struggling to keep afloat in a time when corporate CEOs are still getting multimillion dollar compensation and bonuses.

With more hardworking Americans losing their jobs and their homes every day, janitors want to protect and create good jobs that will help get this country's financial system back on track. "We're here to show that we're important in this economy too," said Alexandra Figus, who's worked as a janitor for 29 years. "We have families and homes. Our homes are going into foreclosure. I'm a mother. I have a family. That's why I'm here. We need job security."

Thursday's rally occurs as nearly 15,000 SEIU Local 1 janitors begin contract negotiations with the Building Owners and Managers Association (BOMA) of Chicago, including 3,000 janitors who work in suburban office buildings. The current agreement expires April 5.

Tags: CEO pay, chicago janitors, fifth third bank, janitors, justice for janitors, low-wage workers, march, rally, seiu local 1

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Service Employees International Union
Change to Win Federation USA | Canadian Labour Congress
1800 Massachusetts Avenue NW, Washington, DC 20036
© SEIU | Privacy Policy