Robert Reich

Meta announced a $40 billion stock buyback two months ago.

The same corporations telling us they have no choice but to lay off workers are simultaneously spending huge sums enriching shareholders.
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RT @MorePerfectUS
Meta, parent company of Facebook and Instagram, has announced another round of mass layoffs, with 4,000 workers getting the ax this time.

This is the 3rd round of mass layoffs, and under shareholder capitalism firing…
https://twitter.com/MorePerfectUS/status/1648688231649624064

More Perfect Union on Twitter

“Meta, parent company of Facebook and Instagram, has announced another round of mass layoffs, with 4,000 workers getting the ax this time. This is the 3rd round of mass layoffs, and under shareholder capitalism firing thousands of people has sent the stock price soaring. /1”

Twitter
Apr 19, 2023 at 10:36pmWeb
Show threadJohn BreenApr 19, 2023
@rbreich I am laughing as I recall all the emails I got from Facebook recruiters in the past years, to which I responded "I will never work for Facebook".
Corollary is that I will never be "laid-off" by Facebook.
Show threadfruit treesApr 19, 2023
@rbreich Yep. Same shit, new year.
Banks are already freaking out! I know, because I got my first personal call from one, and I've had an account for 20 years!
Can't wait when these "too big to fails" are suddenly failing and we're back to the familiar chorus of "how could this happen" followed by "they need to be bailed out." *just tired.
Show threadKrytenApr 19, 2023
@rbreich Nobody loves fed talk of inflation and recession more than the C-suite of corporate America. It's a great time for stock buy backs and layoffs. Scum, each and every one of them.
Show threadDani 🍁Apr 20, 2023
@rbreich Corporations do what corporations always do for more profit.
Show threadTucker TeagueApr 20, 2023

@rbreich Yes, I can't stand Meta & all these others companies doing mass layoffs, etc. BUT the system is working as designed. The shareholders are the only ones that matter. Capitalists are being capitalists, working the capitalist system created by capitalists & enforced by the capitalist government. This is the whole plan, the game itself. They have no reason to feel any remorse. They are the winners. They play by the rules (which they made & can change however).

We need to change the system.

Show threadexEGS 🇨🇦Jun 1, 2023
@rbreich What! Is this really a surprise to anyone?