No, GM did $10 billion of buybacks this year and now needs to "save" $6billion by firing workers.
The cost of firing those workers? They've permanently lost those workers, their families, and their friends as customers. Forever. So that some fat #$@#$ shareholders can have a few more bucks in their bank accounts.
The unions are the only thing protecting those workers and the thousands of jobs in the American supply chain that the executives are doing their best to destroy.
GM targets a cash reserve of $18 billion, and returns any free cash above that number to shareholders via dividends and an ongoing stock-repurchase program. Since 2012, it has returned about $25 billion.
Why you wouldn't take that 25 billion and invest it in AI and electric cars is baffling to me.
The cost of firing those workers? They've permanently lost those workers, their families, and their friends as customers. Forever. So that some fat #$@#$ shareholders can have a few more bucks in their bank accounts.
The unions are the only thing protecting those workers and the thousands of jobs in the American supply chain that the executives are doing their best to destroy.