Microsoft to Cut 9k Workers in Second Wave of Major Layoffs

I don’t remember when it became normalized for profitable companies to casually execute major layoffs. It used to be a “shameful” last resort that CEOs turned to as a last ditch effort to save a company facing bankruptcy.

I suspect it’s related to the stock buyback safe harbor rule (Rule 10b-18.) Layoff announcements used to be a sign of a company in crisis, now the stock price often immediately rises, perhaps because shareholders are anticipating a short-term windfall.

The Wall Street bros love layoffs. They think it makes a company more efficient. They don't see it at all as a problem with management, they just think it's a great idea. So the stock often goes up with a layoff announcement.