NYC Comptroller Brad Lander Statement on eBay’s Workers’ Rights Assessment

NYC Comptroller Brad Lander Statement on eBay's Workers' Rights Assessment

New York, NY - New York City Comptroller Brad Lander released a statement on eBay's recently completed workers' rights assessment. On behalf of the five New York City retirement systems, the Comptroller's Office engaged with eBay for months alongside New York State Comptroller Thomas P. DiNapoli and negotiated an agreement on a shareholder proposal calling for a workers' rights assessment and a revision of that policy to affirm the company's commitment to global labor standards.

The company's commitment to conduct this assessment and revise policy was an encouraging step forward, but recent reports tell a different story of the company's progress on these efforts and the company's glowing statement about the recently completed assessment rings hollow. In July, Comptroller Lander urged eBay to reach a collective bargaining agreement with workers expeditiously and deliver on its commitment to bargain in good faith - but there are no signs that the company is serious about getting this done.

The statement reads as follows:

"As shareholders who believe that the wellbeing of a workforce is central to an organization's success, we were encouraged by eBay's agreement to take a hard look at its labor relations in response to months of engagement with my office on behalf of New York City's five public pension funds. However, while eBay states that it is committed to living by its values - we aren't so sure. There is no collective bargaining agreement, and we are concerned by the lack of progress and a report that lets the company off the hook. eBay's board should hold management accountable and redouble its efforts to come to a collective bargaining agreement promptly. Investors expect no less from the company," said New York City Comptroller Brad Lander.

eBay's announcement of a workers' rights assessment in July was in response to a shareholder proposal filed jointly by the New York City retirement systems and the New York State Common Retirement Fund. It followed months of engagement with both offices, as well as ongoing calls for the board to remedy and address the company's poor labor relations.

Comptroller Lander has repeatedly called for the company to address investor concerns regarding labor relations. In a November 2023 letter, Comptrollers Lander and DiNapoli requested an affirmation of its commitments to workers' rights after the company removed language describing its respect for workers' rights to unionize and engage in collective bargaining. It was preceded by a joint June 2023 letter with other investors addressing alleged workers' rights violations at eBay subsidiary TCGPlayer.

Despite the ongoing calls, eBay has failed to provide examples of significant changes in company practice. Investors recognize that collaborative labor relations benefit a company's culture and are linked to favorable financial outcomes for businesses. eBay should recognize this as well.

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