Cisco is the number one in volume of buybacks. It's all going to the shareholders not the workers.
Tax cut scoreboard: Workers $6 billion; Shareholders $171 billion
http://money.cnn.com/2018/02/16/investing/stock-buybacks-tax-law-bonuses/index.html
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Why would companies care about employees retention, training and wellbeing, if there is abundance of dirt-cheap labor from Asia, Eastern Europe (for tech. industry) or from Mexico and South America (for every other field). It's a race to the bottom my friend.
"That's capitalism". No - That's crony capitalism. It's "the everything" bubble driven by ZIRP and NIRP.
No need to invest in innovation and productivity when you can rig your stock (as well as many other assets).
I am a worker and a shareholder. I benefit too.
Cisco has spent over $50 billion on stock buyback over the years with not much for results. They could have financed every startup in the area.
The employees don't get much stock. Cisco used to give fairly large ISO allocations, then they switched to giving a few RSUs but that dwindled off.
For years they didn't give pay raises and only a few promotions.
whining Millennial clap trap. Don't the employees that own stock kinda of shoot down the socialist CNN's point??
Cisco is the master of financial engineering. Cisco already spent tens of billions on buybacks which didn't help the stock at all.
You would think it could use the money to grow the business after 5 years of no growth at all.
The workers are so used to being abused that they think it's normal. Years ago companies gave raises, and job training. Back when they used to care about employee performance and retention. Now all they care about is getting you for cheap. They also used to care about customer satisfaction and product quality. Shareholder value was only one of the 3 things that were important years ago. Now it's the only one. This is because the execs get big stock allocations and buybacks were made legal. The average worker these day is too young to remember what it was like when you got looked after as if you were worth something and the company invested in your job growth .
I love it!!
That's capitalism for you. You voted in Trump. What did you think corporations were going to do...shower employees with cash? Get real.