eBay pressured to reinstate quietly deleted union-support policy

illuminem summarizes for you the essential news of the day. Read the full piece on Bloomberg Tax or enjoy below:

🗞️ Driving the news: eBay is facing pressure after removing a clause from its human rights policy that supported workers' rights to unionize
• This change occurred following the unionization of workers at its subsidiary TCGPlayer, which marked the company's first union

🔭 The context: The deletion of this clause has raised concerns from the New York City and State comptrollers, who have requested an explanation from eBay
• They highlighted the timing of this change, coinciding with union activities at TCGPlayer, as particularly troubling

🌍 Why it matters for the planet: This issue underscores the importance of corporate policies in supporting or hindering labor rights, which are fundamental to ethical business practices and fair working conditions

⏭️ What's next: The comptrollers have set a deadline for eBay to respond to their inquiries
• The situation is being closely watched by investors and stakeholders, as it may influence eBay's reputation and corporate governance practices

💬 One quote: "Companies thrive when their workers are supported and respected," (New York City Comptroller Lander)

📈 One stat: As of June 30, the New York City and State pension funds, as long-term investors in eBay, held 2.5 million shares in the company, valued at $111 million

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