Target USA was so good at making money that it earned $72 billion in sales in 2014. Any other company would reward its employees for this amazing accomplishment instead Target, the CEO and the board of directors celebrate with a massive layoff.
Good to feel appreciated
It is all relative
Because the CEO is not laying off himself and it means more bonus money in his pocket. Basters!
This is just one of the reasons why I am glad I am a former team member. I kept hearing year after year about how good the EPS was, but it was given back to the shareholders, not to the ones who actually earned it. If I didn't get a promotion in a given year, I would get 2.5% raise, and that was generally one of the top raises in my dept. It is a sad commentary on the lack of responsibility to the people who actually earn the money, rather than the people who put their (excess) money into the stock.