Progressive Politics

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TokenBoomer

After Gorging on Stock Buybacks for Years, Boeing Announces Mass Layoffs (www.commondreams.org)

submitted 5 days ago by TokenBoomer to c/progressivepolitics

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"The corporate cure is always the same—lay off workers," said one critic. "Stock buybacks and layoffs are joined at the hip. It's time they were outlawed entirely."

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[–] [email protected] 7 points 4 days ago

Boeing, which is currently facing a machinist strike, spent an estimated $68 billion on executive-enriching share repurchases and dividends between 2010 and 2019—spending that critics say refutes the company's claim that layoffs and inadequate worker compensation are necessary.

We can't afford to pay our workers a living wage because we're greedy.