Microsoft laid off hundreds of workers last week.
In total, it has laid off over 2500 employees so far this year.
Its CEO was paid $48.5M in 2023 — 250x the company's typical worker.
Yesterday, the company announced a $60B stock buyback program.
Textbook corporate greed.
@rbreich
Stock buybacks should be illegal.
@samhainnight @rbreich
I know. They should be again.
If a company has money for a stock buyback, they should:
- lower their prices and/or
- pay their staff more and/or
- invest in expanding the business
Two things you should not do is:
- pay exec even more and/or
- reward shareholders w buybacks or dividends
Robert Reich
TC Won't Give In To Lies
Samhain Night