Don’t look bad, maybe their won’t be many layoffs, perhaps just scare tactics to try to make people take the
VSP and quit. It doesn’t matter what management does, they are in the right market, even MM could make money in this buisness. Good luck!
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I see it over and over,
Stock price directly impacts employment decisions in most publicly traded companies. They lay off people to show their investors that they are making internal corrections to combat the falling stock. All they are trying to do is show a reaction to investors to alleviate concerns and not cause the stock to fall even more. I have been involved in this process and it is not fair to the employees.
I feel if the stock price keeps dropping or doesn’t improve fairly soon there will be more layoffs. If you look at 2016 there was a big drop in stock price before the layoffs. The same thing is happening except the stock price is gradually eroding over a long time. The VSP was the beginning but will it be enough to keep investors happy? This is all for show nothing elese, in my opinion.
MM is currently in this business - running Williams.
Ok the stock market did not respond favorably to the earnings report. The stock market isn’t always right but it’s amazing how accurate it can be sometimes. I think investors are saying this is a ho him company, a one trick pony, the Transco pipeline.