John Deere lays off hundreds of employees, after a $10B profit year
John Deere lays off hundreds of employees, after a $10B profit year
An unexpected company is now laying off hundreds in Illinois by the end of summer due to a decline in market demand for its products.
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It's not inflation if companies are posting record profits.
$10 billion might be record breaking but not the record breaking you are thinking of. 2017 was the last time they posted profits around $10 billion or less.
If a company makes 10 billion dollars, they should be able to hire more people or pay everyone more. Instead that money is siphoned by unemployed bums who have absolutely nothing to do with the company - the “investors.”
If this system weren’t already in place, we would consider it completely comical.
Except their profits need to also cover: Reinvestment in the Business: This includes spending on research and development, upgrading equipment, expanding operations, and improving infrastructure.
Debt Repayment: Reducing existing debt to strengthen the company's financial position.
Dividends: Distributing a portion of profits to shareholders as dividends.
Share Buybacks: Purchasing the company’s own shares to reduce the number of outstanding shares and increase the value of remaining shares.
Employee Compensation: Providing bonuses, raises, benefits, and other non-salary incentives to employees.
Mergers and Acquisitions: Acquiring or merging with other companies to expand market reach and capabilities.
Savings and Reserves: Setting aside funds for future investments or as a buffer against economic downturns.
Corporate Social Responsibility (CSR): Investing in community projects, environmental sustainability, and other social initiatives.
Marketing and Advertising: Increasing brand awareness and market presence through marketing campaigns.
Technology Upgrades: Investing in new technologies to enhance efficiency and productivity.
To name a few.
Is that what they should do? Abso-fucking-lutely
But is that what any publicly traded company does??
Did you even read the fucking article 🤣
Sure. But they aren't the only ones posting record profits in the past few years.