Of course, the stock market soared up 200 points the day this was announced.
There's a theory that "laying off people is good for business". It's been around since at least the horrible Bush Senior recession in the early '90s.
Nothing like lay offs to crack the whip over the heads of all those cubicle workers. "Better start putting in unpaid overtime or you're next."
A couple things I've noticed are that:
- there are never "too many lay offs" where too many key people have been laid off and the work can no longer competently get done.
- there is never any talk of "worker burn out" where the slave-driven workers become so demoralized their efficiency drops off. (I guess managers are supposed to spot those workers and fire them too.)
- And supposedly there is never a drop in productivity from all those lay offs. It's always a good thing no matter what the business is.
I guess if these businesses really want to become the most efficient in the eyes of the Wall Street investors, they should lay off everyone, but the CEO and the public relations department, then the stock should shoot up to its highest possible value even though all the people actually making things have been laid off.