The Transylvania Times -

More Profits, Fewer Jobs

 

November 29, 2018



General Motors announcement that it would be “idling” four American plants and one in Canada resulting in the loss of 14,000 jobs highlights the intrinsic problem of today’s corporate capitalism. The financial interests of shareholders and management are often in direct conflict with the financial interests of employees as indicated by the fact that GM’s stock increased nearly 5 percent when the layoffs were announced.

Corporations are responsible to their shareholders, and shareholders want to see the value of their shares increase. Even when a company is profitable, shareholders...



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