Dollarama CEO pay doubles from prepandemic levels

  1. Yeah, but it held for surprisingly long though. I still get some things there that are $1, and even just a few weeks ago I did see canned tuna cans for $1, as well as relatively large packs of cookies and such. It's several times cheaper than very similar stuff in Metro half a block away.

  2. given the current rate of inflation they have a twelve-month window to rebrand to "Toonietown" before that is out of date too

  3. Technically it could be argued that "Dollarama" means "lots of dollars" considering the suffix -rama translates roughly to "spectacular display of" dollars.

  4. I don't really mind since they sell things that they'd never be able to profit from if they only sold them for a dollar, which means they just wouldn't be available there. I still regularly find stuff there that's 25-50% than it is in other stores.

  5. I've known a couple people that worked for Dollarama and they all the say the same thing. It's the absolutly worst place to work. They don't give a shit about you

  6. Serious question, what exactly does the CEO of such a business do that deserves such compensation? There is no innovation here, is there? There is no radical change to how they are selling their cheap crap.

  7. NONONONO you see these rich folks are the backbone of our economy. You should be greatful they gave you a job in the first place and saved you from poverty you fucking peasant /s

  8. Inflation is not due to companies raising prices. Stop blaming complex economic phenomena on the scapegoat of your choosing.

  9. Working for Dollarama is genuinely so dead end. Zero benefits, and associates are barely brought up the ladder. Most higher positions are brought in from outside.

  10. That’s right, retail employees are no long looked at as assets, they are a cost and like all costs you must continue to cut where you can.

  11. I have 1 relative and 3 very close friends working in 3 different Dollarama' in my city. Not a one of them has gotten a raise, yet. Or ever received any type of bonus All worked throughout the pandemic, and they had to provide their own PPE. Reading this article infuriates me.

  12. I went to a Dollarama sometime last year, and the cashier had on latex gloves that had worn out so bad they had holes at the fingertips. Makes sense now.

  13. Quick google tells me dollarama has 20,000 employees. If the CEO gets paid 0 dollar in 2021 that is an extra $391.5 per employee.

  14. So that's why they added $5 items and bumped the price of $2 chips to $2.50. Dollarama is a dollar store in name only now. It's the fucking Zehrs of Dollar Stores.

  15. Raising prices from a dollar to 5 bucks because of inflation? Naa inflation is a nice excuse for increasing profits 5x. This is like like war profiteering

  16. Honestly a dollar for any product which gets made on the other side of the world, shipped here, stocked in retail space, and is checked out by a human being (making $15/hour) is probably too low of a cost

  17. And yet after working there through the pandemic, they couldn't afford to pay us more than min wage, even as the entire staff left for better jobs they wouldn't 9ffer any incentive to stay.

  18. The elites all operate some scheme like this. Sell cheap crap make in slavery conditions in China for pennies, the markup is probably around 3000%.

  19. Well, you know, he made some really important strategic moves and worked really hard and innovated like crazy to make Dollarama a shopping destination during a time of economic struggle.

  20. Dollarama was my first job, and also my worst job. They have unsafe work places, from making 16 year olds deal with incredibly aggressive customers, to the stock rooms, had us lie to Ontario Labour Board/Safety Organizations about most things.

  21. Just like gas companies making record profits in the first quarter of 2022 even though our prices are skyrocketing. Disgusting society we live in.

  22. Disgusting capitalism we live in. It could easily be made better a hundred different ways. Doesn't mean communism when a CEO can't exploit profits from poverty.

  23. I'm sure he needs all of that money too while people struggle to survive the rising costs of absolutely everything, including what's stocked in Dollarama.

  24. My gf loves this store but I hate it, one person on cash the other helping people use the self check outs which require a cashier 60% of the time, worst self check out machines ever.

  25. Ok, no longer shopping there. Between some items becoming 5$ and the CEO being a greedy douchebag. No thanks

  26. Inflation has made them less rich on paper, raising costs solely in relation to the increased cost of things wasn't enough to fix that deficit. They wanted to make sure they added a little extra for their pockets

  27. I don’t give two stinky farts what the CEO of dollarama makes. Meanwhile, government policies make dairy, housing, telecom costs outrageously expensive, but no one look at the man behind the mirror.

  28. When are we going to grab the pitchforks and round all of the extremely rich and greedy people up?

  29. Literally been tried hundreds if not thousands of times, all over the world, in almost every country.

  30. Yeah, but it held for surprisingly long though. I still get some things there that are $1, and even just a few weeks ago I did see canned tuna cans for $1, as well as relatively large packs of cookies and such. It’s several times cheaper than very similar stuff in Metro half a block away.

  31. Wonderful that they reward him with millions, but continue to pay their employees, the ones making them so rich, absolutely nothing extra in terms a living wage. That seems fair. The next step for me is to boycott these crooks for good.

  32. I can’t believe people shop here. I have gone 15 years without going to one of these types of stores. I understand for some things but 7/8th of these stores are single use plastic and goes right into the garbage. It’s a waste!!!!!! We all complain about the environment and go here and talk about “the deals” we get on literal garbage.

  33. His pay is doubling but his employees are still making minimum wage with no benefits? Possibly something like that.

  34. While they had decent and cheap stuff in the past, I mostly avoid Dollarama now because it is a ripoff, at least based on what they are advertised to be. I even discourage family members going there because they go for one or two items and never come out with a bill smaller than $50-60

  35. I don't care about the ceo or other salty comments but face it, I'm not going to pay 10$ for an ice tray or a plastic jug when I can get it between 1.25$ to 4$ here...

  36. Lol we’re mad at CEOs but professional sports players who bring nothing to the table outside of some entertainment make millions upon millions of dollars. Our society’s priorities are fucked. At least dollarama provides you with day to day goods and services.

  37. I'm really glad we're all forced to swallow this massive (mostly artificial) inflation so that CEO's can maintain their living standards amidst inflation they are creating.

  38. The prices are still good and have probably helped a lot of people during the pandemic, even when we weren’t allowed to purchase school Supplies there during a time. I don’t care what he gets paid, having dollarama’s around is a blessing.

  39. It's a symptom of a problem. We are being told our prices are going up because of inflation, but there is a group of companies out there who took the opportunity to use inflation as a cloak to raise normal prices as well, increasing their profit margins. It wasn't just make up inflation.

  40. Trying to have a reasonable discussion about business or CEOs on Reddit is impossible. The average Redditor sees CEO and automatically assumes they are evil and don't deserve money without understanding what their job is and how large companies function.

  41. It’s actually publicly traded but your point stands. Plus the guy has knocked it out of the park for shareholders. Even with the crash you are up ytd and the stock price has doubled in the last three years. The guy has increased the value of the company around 10 billion. A few extra million is nothing out of that.

  42. I find this funny because the Dollarama just closed down in my city from financial mismanagement. It's shame because I used to buy a lot a little nick knacks like LED light bulbs and USB cables from there. I'd go in to get one thing and leave with 20 things lol.

  43. Probably because athletes aren't getting their raises by doubling the price of loofah's & birthday cards then attributing the price hikes to inflation & supply chain problems.

  44. Because poor people are always jealous. They think just because a company is doing well the lowest paid and lowest skill should somehow see a share of that even though they have very little impact on profit and are extremely replaceable.

  45. How do the vaunted shareholders accept this? All terrible pay for low level employees is explained away by "but the shareholders!"

  46. Aaand prices are way up, plus many locations are forcing you to use self scan (literally aren't employees at the counter, they must have cut back staff). That pisses me off so much I will leave my order at the cash and walk out.

  47. It's genuinely disgusting how the motives for profit distribution change so drastically as a company grows. Reading statements by these larger companies you wouldn't even know they have human employees, let alone the fact that those employees are making a wage closer to the poverty line than something comfortable.

  48. Doubling your pay in a time when people can't afford anything especially your employee's is a fucking great way of killing your business in the long run.

  49. As long as they still have individual products for $1 or less the name is not completely misleading. Most expensive items I believe are $5.

  50. Again, where do you think your money is going? The price of everything went up but your pay stayed the same; the money isn't being poured into the stratosphere, it's going into someone's bank account.

  51. NOT AT ALL... My relative has been at the same location since it opened, I want to say over 12 years ago. The only raise she has ever gotten, is the minimum wage increase, that the government enforced. No wage increase, no bonus, not even at holiday time. AND, had to supply their own PPE throughout the pandemic .

  52. But with trickle down economics, that means he is going to use that money to pay his employees better /s

  53. Is there anything these stores sell that doesn't end up in a landfill or ocean/river within the week? All cheap plastic junk.

  54. Dollarama is pretty trash anyway. Everything actually a dollar is often garbage quality and everything else is overpriced slightly less garbage quality. They just profit off of people who can't afford better or don't realize it's not worth it to buy trash quality things for cheap.

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