26% of SkyWest Shareholders Support Non-Interference Policy
Proposal asked company to adopt policy addressing employee's rights of freedom of association and collective bargaining
FOR IMMEDIATE RELEASE
MEDIA CONTACT: Sophia Wilson, swilson@asyousow.org, (341) 600-1832
BERKELEY, CALIFORNIA–MAY 14, 2024–Results released late last week showed 25.7% of SkyWest ("the Company") shareholders supported an Amalgamated Bank proposal asking it to adopt a non-interference policy upholding the rights to freedom of association and collective bargaining in its operations. The company faces allegations by the Association of Flight Attendants-CWA that it has retaliated against employees seeking external union representation and that it funds an internal employee association, the SkyWest Inflight Association (SIA), intended to replace independent unionization.
SkyWest’s other major competitors have already established independent external unions. These include United Airlines, American Airlines, Endeavor Air, Republic Airlines, PSA Airlines, Envoy Air, Piedmont Airlines, Horizon Air, Mesa Air Group and Air Wisconsin. Falling behind peers, coupled with the swell of public support seen during 2023's "Hot Labor Summer" for unionizing workers, the company faces reputational and competitive risk that alarms shareholders.
"SkyWest stands out among its industry peers for inadequate and inappropriate governance of its employee relations and their freedom of association," said Ivan Frishberg, Chief Sustainability Officer for Amalgamated Bank. "Its operation outside of industry and regulatory standards presents a clear long-term risk to investors."
The presence of unions has been positively correlated with low turnover, improved diversity, investment in training, and reduced legal and regulatory violations. Conversely, companies that actively oppose unionization experience declines in productivity relative to those that are less opposed.
"Adopting a non-interference policy is a basic step toward a workplace that respects its workers' fundamental right to explore unionization," said Danielle Fugere, President and Chief Counsel for As You Sow, which supported the proposal and engagement with the Company. "Companies that support and invest in their employees, rather than undermining them, are more likely to ensure shareholder value."
Shareholders at Delta will face a similar proposal at the company's annual general meeting on June 20.
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As You Sow is the nation's leading shareholder representative, with a 30-year track record promoting environmental and social corporate responsibility and advancing values-aligned investing. Its issue areas include climate change, ocean plastics, pesticides, racial justice, workplace diversity, and executive compensation. Click here for As You Sow's shareholder resolution tracker.
Amalgamated Bank is a New York-based full-service commercial bank and a chartered trust company with a combined network of five branches across New York City, Washington D.C., and San Francisco, and a commercial office in Boston. Amalgamated Bank was formed in 1923 as Amalgamated Bank of New York by the Amalgamated Clothing Workers of America, one of the country's oldest labor unions. Amalgamated Bank provides commercial banking and trust services nationally and offers a full range of products and services to both commercial and retail customers. Amalgamated Bank is a proud member of the Global Alliance for Banking on Values and is a certified B Corporation®. Amalgamated Bank engages with portfolio companies held by the Longview family of funds managed by the Bank.