Worker-ownership has emerged as an important strategy to keep people employed, doors open and communities served in the midst of COVID-19. A Rutgers study found that majority employee-owned companies outperformed traditional businesses in job retention, pay, benefits and workplace safety during the pandemic. Local and state governments are developing policies and funds to support this movement: New York City opened an employee-ownership hotline in December 2020 and the City of Santa Clara launched a Worker Cooperative Initiative in January of this year. As of 2019, the Berkeley Revolving Loan Fund can be used to finance worker cooperative conversions, has removed barriers to co-op access and has a minimum 10% lending target worker cooperatives or businesses converting to democratic worker ownership.
Pages tagged "coops"