Thread regarding Baker Hughes layoffs

Baker can afford 2 billion stock buy back, but cannot afford you!

(www.reuters.com/business/energy/baker-hughes-buyback-shares-worth-2-billion-2021-07-30/)
Buy back stock while laying people off and having negative net income. Great decision!
Big three will become big two, I am waiting for the day to come.
Sell your stock, you know who is buying.

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Post ID: @OP+1c9Agh8o

6 replies (most recent on top)

Stock buybacks occur generally when the company realizes that there are no other higher or best use for their free cash. Sooooo, Mo money, Mo money, Mo money for those lucky few chosen ones who will be compensated with more free stock.

The rest of you "No soup for you!"

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Post ID: @dtso+1c9Agh8o

Executives prepping those golden parachutes

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Post ID: @2rbv+1c9Agh8o

They own your as--s wake up and smell the roses

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Post ID: @oql+1c9Agh8o

They’re buying back the stock so executives get their extra bonus money. This is at the risk of long term employment and imposes risks to the long term health of the company.

Short answer: the executives don’t believe in the companies future. And they aren’t buying back the stock with their own money. Using company’s free cash flow. You know, the thing that keeps everyone employed!

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Post ID: @jxo+1c9Agh8o

Umm…

Stock buybacks enrich the bosses even when business sags

https://www.reuters.com/investigates/special-report/usa-buybacks-pay/

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Post ID: @igm+1c9Agh8o

Looks like these guys are desperate. They’ll do anything to try to create money. I wonder where the $2B is coming from? You guys may want to make sure it’s not coming from your retirements.

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Post ID: @dbv+1c9Agh8o

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