Sabancı Holding increase their profit by 50 percent in 2017

As strikes are banned, income of the labourers' decreases, and suicide rates among labourers and the unemployed rocket, the bourgeois continue to boost profits
Sabancı Holding Chair Güler Sabancı (L) and Turkish President Recep Tayyip Erdoğan.
Tuesday, 27 February 2018 20:12

 

The AKP government's rule in Turkey is of help only to the bourgeois. The year 2017 was no different than others in this respect, too.

Sabancı Holding, one of the most prominent capitalist groups in Turkey, announced to have increased their net profit in the 4th quarter of 2017 by 48.1 percent, reaching a number of 1.1 billion Turkish Lira (more than $263 million). The holding’s net profit for the whole year was 3.5 billion Turkish Lira (more than $923 million) by an increase of 30.9 percent.

This growth, however, is the result of exploitation and mobbing, as well as the conveniences provided by the AKP government.

Carrefour, the partner of which is Sabancı Holding, and which goes by the name CarrefourSA in Turkey, is notorious for their maltreating against their employees. It was told by the employees that mobbing, dismissals, and denial of overtime pay is a common practice in many branches of the company.

Also, the metal workers in another one of Sabancı Holding’s companies, TemSA, a company manufacturing motor vehicles, had told that work safety was neglected by their employers "because it was too costly". Browbeating the workers about discharges was also common in those factories.

The Communist Party of Turkey (TKP) had also protested Sabancı Holding in mid-January this year for their hypocrisy in organising a short-film festival on child labour. Stating that nearly two million children were forced to work in Turkey, the TKP had said that the representatives of the capitalist order and Turkish government only try to deceive people by organising such events, and to conceal their crimes on the issue of child labour.