Mondragon worker co-op federation reports sales of €11.213bn
Mondragon worker co-op federation reports sales of €11.213bn
www.thenews.coop
Mondragon worker co-op federation reports sales of €11.213bn
4 comments
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down from €13.9bn in 2011 :(
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Financially, that's kinda fantastic post-pandemic, post-Tariffs, post fall of capitalism.
It's HILARIOUSLY IRONIC to use their earnings going down as a measurement of their success.
So let's not be sad about that.
Rather, take notice they comfortably employ about as many people as Intel can in 2025. (Which is more than Facebook) https://www.nytimes.com/2025/07/24/technology/intel-layoffs-25000.html
[Intel] said it now expected layoffs, attrition and other actions to reduce its head count to 75,000 by the end of 2025.
And that's despite Intel making $53.1billion in that same time. INTEL can't offer more jobs than a CO-OP that makes 1/5 of what they do?
That CO-OP must being doing something right. Namely, employing people instead of overpaying executives.
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oh ok, I've never heard of it before this post so looked them up on Wikipedia and saw that old pdf as a citation.
I guess it makes sense that they'd be hit hard by the pandemic since Spain was one of the worst effected in Europe. The wikipedia article also mentions "In 2022, the worker-owners of ULMA Group (scaffolding) and Orona (elevators) voted to leave the corporation. Estimated impact of the leave is a workforce drop by 13% and a 15% cut of the group's sales".
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The model works.