Union Backs Brand New Antitrust Bill Before Regulators Review Activision Blizzard Deal
The union representing nearly a million workers in the media industry, Communications Workers of America, recently came out in favor of the antitrust bill proposed by Senator Elizabeth Warren known as the Prohibiting Anticompetitive Mergers Act. Regulators at the Federal Trade Commission are scheduled to review the upcoming merger between Microsoft and Activision Blizzard in the coming weeks.
“Senator Elizabeth Warren’s Prohibiting Anticompetitive Mergers Act would put an end to anticompetitive mergers that destroy jobs, put downward pressure on workers’ wages, and leave the communities where we live and work to pick up the pieces,” Communications Workers of America said in a statement. “It sends a strong message that the interests of workers and communities must at long last be taken seriously in reviewing mergers.”
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While often the first to be impacted, workers rarely have a say in the process of corporate consolidation. “Workers have long been shut out of conversations about mergers that would directly impact their livelihoods and they have been disregarded by regulators in the review process,” President at the Communications Workers of America Chris Shelton said. “Shareholders and executives see big gains, while workers pay the price of consolidation. Megamergers not only often result in mass layoffs but an unfair concentration of market power that limits workers’ choices for employment, leads to wage suppression across industries, and hinders workers’ ability to exercise their rights.” Shelton went on to say that “when workers at these companies do not have union representation, they are not able to have a seat at the table and do not
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