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A worker cooperative is a cooperative owned and self-managed by its workers.This control may mean a firm where every worker-owner participates in decision-making in a democratic fashion, or it may refer to one in which management is elected by every worker-owner who each have one vote.
Shares are allocated to employees and may be held in an ESOP trust until the employee retires or leaves the company. The shares are then sold. Worker cooperatives are another form of employee ownership wherein workers are exclusive owners and managers of the firm, with one vote per employee in democratic decision-making.
Economics of participation is an umbrella term spanning the economic analysis of worker cooperatives, labor-managed firms, profit sharing, gain sharing, employee ownership, employee stock ownership plans, works councils, codetermination, and other mechanisms which employees use to participate in their firm's decision making and financial results.
Since the broad purpose of cooperatives is to offer different power structures than ordinary capitalist institutions (which are owned by profit-seekers that may or may not work at the firm), as well as to improve the economic and social life of workers and all who are involved beyond mere profit and creating products/services, there is much ...
Rainbow Grocery Cooperative, San Francisco, CA; Red Emma's Bookstore Coffeehouse, Baltimore, MD [11] Seward Community Cafe, Minneapolis, MN [12] TESA Collective; The Drivers Cooperative, New York City
According to the National Center for Employee Ownership, corporate staffing firm Penmac is the second-largest employee-owned business in America. With 28,000 employees, that shows just how massive ...
A worker co-operative is a co-operative owned and democratically controlled by its employees. There are no outside- or consumer-owners in a worker co-operative. Only the workers own shares of the business. It is estimated that there are approximately 403 worker owned and controlled co-operatives in the United Kingdom.
Worker- and employee-owned trading enterprises, co-operatives, and collectives. These vary from very large enterprises such as John Lewis Partnership in the UK and the Mondragon Corporation in Spain to medium-sized enterprises owned by their staff with traditional management hierarchies and pay differentials to quite small worker cooperatives with only a few directors and employees who work in ...