If current events continue in their present direction, seven of the world’s largest and most influential tech companies may have to pay anywhere from 5% to 10% of the yearly earnings of tens of thousands of their employees. Not only that, but these payouts may have to be calculated all the way back to 2005.
As reported by TechCrunch, Google, Apple, Adobe, Intel, Intuit, Pixar, and Lucasfilm are now defendants in a class action lawsuit alleging that the tech giants conspired together with the purpose of violating long-standing antitrust laws in order to artificially suppress the wages of their employees.
Essentially, the lawsuit alleges that the tech companies entered into an informal (and illegal) agreement not to hire one another’s employees. In refusing to hire the workers, a cartel was formed that prevented the workers from migrating to the competition for higher wages, thus keeping the cost of hiring from the labor pool down to an artificially low level.