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this post was submitted on 10 Sep 2023
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Revenue, not profit.
Wut?
As in, it should be a proportion of their overall revenue as a business, if you just take a proportion of their profit then it's less likely to actually harm them in some way. A single heavy fine calculated from profit will never put them at risk of not actually making a profit due to their horrendous misdeeds.
I will then amend my solution to add this: the fine should be 50% of their profits.
I am somewhat wary of hitting revenue as companies could then use it as an excuse to let go of staff, and that is a cost I'm unwilling to stand up for.
Companies will just spend that money instead of making a cash profit.
Honestly, without specific regulation to prevent it, cost cutting like slashing staff will be the first thing a company does to protect its expected profits regardless of how you do it. That's unavoidable whether you go for profit or revenue.
Like a company needs an excuse to let go of staff. If they're going to fire people, they'll use any reason they can to cover.