Thousands of good people were laid of in the past few months under the guise of cost cutting because it was supposedly necessary and now we learn that the company is using $10 billion to buy back its own stock?!?!?!
Talk about making your employees feel betrayed once again...
OP if you have a baby sitter and your child grows up will you still keep the baby sitter so that she does not lose her job and cut back on your child's expenses.. Definitely not.. Business needs change.. Layoff is a part of life in the industry.. I have faced multiple layoffs.. Its not the end of the world..
Yes, I could be negatively affected by it. Still, I don‘t whine about it, because I know how a company works. This is capitalism, not socialism or communism. If I don‘t like it, then I pursue other career options.
And OP is an idiot to claim that there is some kind of contradiction between layoffs and stock buybacks. I attack OP for not understanding. Economy 101. A layoff frees up money within the company. A stock buyback is one way to give that money to stockholders. This is what the stockholders generally want: Money. And they happen to be the owners of this company. If you don‘t like that, join a privately owned company. There, you will often find a higher level of social responsibility towards employees. But don‘t join a corporation looking for a career and a good salary, and then whine when the corporation acts like a corporation. Don‘t put your head in a crocodile‘s mouth if bitemarks are not your style.
Not to mention that most of the people who whine about this are hypocrits. Do you own stock? Did you buy it hoping that the stock price would go up? Or did you buy it hoping that the CEOs would act socially responsible, and you don‘t care if you make money? Think about that sometime. Think about how happy the next stock buyback for stock you own will make you, and how that money could have been given to the employees instead.
And all of the responses to this are people defending it or attacking the person pointing it out, who presumably are working people who are or could be negatively effected by these activities.
Americans are stupid, stupid people.
Short juicing is the American way LMAO.
short term juicing of the stock is much better than creating long term growth. Perhaps people who join a corporation like Qualcomm should learn how corporations actually work
How exactly do cost cutting and a stock buyback contradict each other? Cost cuts can be used to prepare a stock buyback, so there is no contradiction whatsoever.
Perhaps people who join a corporation like Qualcomm should learn how corporations actually work.
Life is never fair, brother. That's a saying I learned from my Sociology lecturer for Course 101.