“These companies are returning more money to shareholders after cutting jobs”
September 27, 2020
“Here’s a list of companies that have laid off employees or permanently cut jobs… and plan to return more cash to shareholders:
- Accenture: The consulting firm said in late August it would lay off about 25,000 global employees, or about 5% of its total workforce. On Thursday, it announced it would expand its share buyback program by an additional $5 billion, bringing its total to $6.3 billion.
- Darden Restaurants: The company said Thursday it will pay out a dividend of 30 cents per share to shareholders. The same day, the Olive Garden parent said it had cut 11% of its corporate workforce — or about 225 workers — as part of a restructuring.
- Foot Locker: The retailer reinstated its dividend in August after just one missed payment. In July, Foot Locker laid off or relocated 179 employees of its Eastbay brand, according to a notice filed with Wisconsin’s Department of Workforce Development.
- Guess: Earlier this month, the company reinstated its dividend. It also said it permanently slashed its corporate headcount. Guess did not immediately respond to a request for comment from CNBC for more details on the job cuts.
- Johnson Controls: In July, the company resumed its share buyback program. In its last two fiscal quarters, Johnson Controls has reduced its workforce. A company representative declined to share more details on the layoffs.
- Winnebago Industries: The RV-maker’s board approved a 9% increase to its quarterly dividend in August. In mid April, it laid off 79 employees.”