To: Stephen Schwarzman, CEO of the Blackstone Group | cc: Donald Trump
Stop the pay and benefit cuts, support good jobs and put working people before Wall Street greed.
On November 2, working people at Momentive Performance Materials in Waterford, NY put their jobs on the line to stand up against Wall Street greed for each other, the community, and all working people who want to earn a good living in this country.
This strike is bigger than Waterford. Every single day, Wall Street speculators, hedge fund managers and private equity firms sacrifice our communities for the benefit of the wealthy few. Momentive workers are standing strong to stop them.
Since private equity took over Momentive from GE in 2006, wages have been slashed up to 50%, pensions have been frozen, and jobs have been outsourced. Now, Momentive wants to slash healthcare for active employees, and eliminate completely healthcare and life insurance for retirees – many of whom are dealing with illnesses related to their exposure to deadly chemicals at the plant.
Stephen Schwarzman is one of the billionaire Wall Street fund managers who took over the company and drove down workers’ standard of living over the past decade. And Schwarzman isn’t just any Wall Street billionaire – he chairs President Donald Trump’s new “Strategic and Policy Forum,” which is intended to help improve economic growth and create good jobs.
Tell Steve Schwarzman if he really cares about preserving and creating good jobs, he should start in Waterford.