Harold Ander's questions to Waste Management Inc (WM) leadership • Q4 2024
Question
Harold Ander of Jefferies requested an update on key labor metrics, including current employee turnover rates, wage inflation expectations for 2025, and progress on planned job reductions.
Answer
EVP and CFO Devina Rankin reported that frontline turnover improved 300 basis points in 2024 to a record low of approximately 15%. She expects wage pressure to remain elevated at 4-5% in 2025. EVP and COO John Morris reiterated that these pressures reinforce the company's strategic commitment to automation and technology to reduce labor dependency over the long term.