This is what incompetent executives do when they can't innovate and their stock falls. Stock buybacks do not return money to investors. Dividends return money to investors. Stock buybacks reduce dilution from stock grants to executives. Stock buybacks allow executive to sell off will less impact on the market. Stock buybacks drain capital that should be used for innovation and for running the company. Layoffs and buybacks are a sign of corrupt management.
https://markets.businessinsider.com/news/stocks/citrix-announces-1-billion-accelerated-share-repurchase-1028863080