This 7 October, workers around the world mark the World Day for Decent Work with a resounding call: for democracy that delivers decent work — not for corporations, but for the people. Workers globally are demanding urgent action to end the corporate capture of public policy and to advance a New Social Contract grounded in peace, justice, and equality.
As the World Social Summit 2025 approaches, the International Trade Union Confederation (ITUC) emphasizes that governments must confront the root causes of rising inequality, conflict, and social fragmentation. At the core of these issues lies a democracy that has been hollowed out by corporate greed —a democracy that increasingly serves the interests of a handful of billionaires rather than the working majority.
The Billionaire Coup Against Democracy
The recently released ITUC Corporate Underminers of Democracy 2025 report exposes how a powerful network of anti-union corporations, far-right billionaires, and weapons manufacturers is shaping policies that enrich themselves while deepening inequality. These actors fuel wars and divisions, repress workers’ rights, and erode wages and social protections.
“We are witnessing a billionaire coup against democracy. The people who profit from war, repression, and inequality are now using their wealth and influence to control our economies, our governments, and our futures,” Luc Triangle, ITUC General Secretary
Triangle underscored that governments must reclaim democracy for the people. He stressed that the World Social Summit represents a “moment of truth” where states must make binding commitments to the New Social Contract — ensuring jobs, rights, social protection, equality, and inclusion.
“Decent work is the foundation of any democracy worth the name,” Triangle added.
Workers in the Semiconductor Industry: Bearing the Brunt of Corporate Greed
Nowhere is this crisis more visible than in the semiconductor industry, a cornerstone of the global economy and technological progress. As tariff wars and the ongoing U.S.-China chip rivalry intensify, corporations have turned to cost-cutting and to lowering labor standards to maintain competitiveness.
This race to the bottom has left workers in semiconductor factories — from Southeast Asia to Latin America — facing declining wages, longer hours, and shrinking social protections. Many endure precarious contracts, unsafe conditions, and union-busting tactics, even as profits soar.
Behind every microchip that powers smartphones, electric cars, and artificial intelligence systems are thousands of workers whose dignity and right to decent work are systematically undermined in the name of productivity and profit.
The global chip war exposes the deception of a system that celebrates innovation while eroding the human foundation that makes it possible. Workers continue to carry the burden of corporate greed — a burden that democracy, if it truly serves the people, must lift.
Reclaiming Decent Work
The ITUC calls for concrete measures to reverse this trend and build a future that works for all:
- Redirect military spending toward education, decent jobs, and climate action.
- Enact global tax reform so that the wealthiest individuals and corporations pay their fair share.
- Establish a new UN framework for disarmament and just transition that integrates peace and sustainability.
- Guarantee full labor rights and living wages in every country.
- Ensure universal social protection for all workers.
As the world moves toward the World Social Summit 2025, governments stand at a crossroads: To continue serving the interests of the few, or to finally stand with the working people who keep our societies alive and who deserve nothing less than dignity, justice, and decent work for all.
You may check the ITUC website for the article on the World Day for Decent Work here.
