[jordanb]

I remember seeing somewhere an analysis that layoffs do not improve medium or long-term stock performance for companies performing layoffs. But if layoffs are coordinated sector-wide they can have a big impact on employee compensation in the sector by creating a reserve army of unemployed.

[whatshisface]

Yes, it's justified on the same economic basis as pricefixing, and unionization with coordinated strikes if you interchange the parties.