Google's cost savings from laying off 12,000 workers: $2.5 billion
Money spent on stock buybacks last year: $57 billion
6 replies (most recent on top)
Nice downvoting of @fpmo+1kQltIep
I mean, nothing about that reply is an opinion.
Larry and Sergey are the only shareholders that matter with their class B shares.
How many times must you be reminded of that clear fact?
People don't work for Google. They work for the shareholders. Shareholders want dividends and profits. The question is can Google be more profitable with fewer people? The same thing happened to me at Cisco after 12 years. It hurt but I am better off now 2 companies later.
It’s also about control.
and 12,000 employees lose their unvested shares which means they get retired which means less dilution and higher share prices in addition to buybacks
Buy high sell low. That's how all companies buyback their stock. When management doesn't know what to do with surplus cash and want to increase their comp, they buyback their stock.