But what is a worker co-operative and how do they function?

In short, a worker co-operative is a business or organisation that is owned and run by its employees.

This means that each worker is a member and has an equal say in major decisions.  All profits are usually distributed among the workforce.  A rather neat way of describing this type of set up is ‘where owners work & workers own.’

Worker co-operatives are known for their democratic governance, social responsibility & community development. This type of business model encourages collaboration and aims to empower workers by giving them direct control over their workplace.

(Compare this to traditional companies, where ownership and decision-making power are typically held by outside investors or management.)

One of the best – if not the best – examples of worker co-operatives can be found in the Basque Country.

The Mondragón Corporation, a federation of worker cooperatives, was founded in 1956 by a Catholic priest named José María Arizmendiarrieta.

He sought to address unemployment and poverty in the town of Mondragón by promoting worker ownership and cooperative principles. His vision and leadership played a crucial role in establishing the first cooperative (which eventually evolved into the Mondragón Corporation).

The Mondragón Corporation employs approximately 80,000 people across its network of cooperatives.

This makes it the largest employer in the Basque Country.  It’s one of the largest employers in Spain (as a whole) and a leading example of worker-owned enterprises worldwide. Its workforce spans various industries including manufacturing, finance, retail, and education.

• YOU CAN find out more about the Mondragón Corporation here:  https://www.mondragon-corporation.com/en/