Comment by GalaxyNova
2 months ago
by laying people off they increase their profit, at least in the short term (which is all that shareholders care about)
2 months ago
by laying people off they increase their profit, at least in the short term (which is all that shareholders care about)
Not with the severance package they're offering, which is why their stock was down between 15-18% after announcing this
Look at the chart of their stock price over the past couple of months. There was a huge run that started literally just over a week ago. Even after this 20% drop, the price today is only slightly below where it was before that run.
Their stock price has been pretty volatile for a while now (6+ months), so even with a swing of this magnitude I don't think it's valid to see it as much more than a correction.