Thread regarding Corning Inc. layoffs

Dividends but no raises

In case you thought it was bad last year when inflation was 7% and the average raise was 3-4% ... now we get zero!

But don't worry, shareholders were rewarded because that is what TRULY matters. At this point I have no idea if the boogeyman of hostile takeover is real or just some 80s/90s Jack Welch 'shareholder maximization' ghost that needs to be put to rest ... but the last several years when the company was booming all that happened was buybacks and dividends rather than investing in people.

We all know Corning (Valley in particular) benefits from a lack of geographic competition - so it was very telling when in-Valley attrition nearly tripled during the 2021 bo-m.

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| 1621 views | | 2 replies (last June 2, 2023) | Reply
Post ID: @OP+1mTBKOkT

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The sad thing is that the economy is booming right now. Friday's job report was very favorable. These are not "hard times" as Corning executives would have us believe.
It's hard times at Corning because of mismanagement and poor decisions made at the top of the organization. Us workers now get squeezed between high inflation and stagnant salaries. Wendell and his buddies will still get their huge bonus.

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Post ID: @2wgw+1mTBKOkT

Thats why we planned to move out of Corning valley right away after 1 year. No competition means low pay, no raise and you're at their mercy when recession comes. A lot of people seem to enjoy the slow decaying process though.

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Post ID: @1uov+1mTBKOkT

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