Rich in ore, the Basque Country had long been the scene of industry, especially steelmaking, but most workers were poorly paid. But in Mondragón, the cooperatives apportioned the pain through wage cuts and advance payments on future hours. After all, the Mondragón cooperatives were created to improve livelihoods in Mondragón, not reform labour markets worldwide. At Mondragón, workers know that, as owners, they stand to benefit from sacrifices that strengthen their businesses. But the way the company has weathered the crisis has reinforced her faith in the structure of her company.

Source: bd News24 December 30, 2020 09:00 UTC