If you give me two shitty options, I will propose an option not presented. Perhaps layoffs are inevitable (unsustainable business, for example, no way you can outrun negative cashflow sometimes), in which case very reasonable packages could be provided. There is no obligation today for that action. You overleveraged the business? You're getting fired, shares are going to zero, but the people who work for you aren't going to sitting at home crying through the holidays waiting for the job market to spin up in January. We might even claw some comp back if at all possible. Leaders eat last.
Note that GM cried in public they could not afford the UAW's demands, and once they agreed to said demands, they still did a $10B share buyback. Boo hoo. I'm simply tired of psychopaths in positions of power in the labor market.
I agree with you generally but I’m not sure the share buyback disproves the claim about labor affordability specifically. In fact I’m having a hard time imagining how it does.
Note that GM cried in public they could not afford the UAW's demands, and once they agreed to said demands, they still did a $10B share buyback. Boo hoo. I'm simply tired of psychopaths in positions of power in the labor market.
https://www.cnn.com/2023/11/29/business/gm-lavishes-sharehol...