For those of you still operating under the delusion that corporate America is good for America and will help “save” the middle class, I draw your attention to articles in The Tribune (Jan. 22, Business page).
American Express and eBay plan to cut a combined total of 6,400 jobs during 2015.
This, in spite of both companies announcing quarterly profits of 11 and 10 percent, respectively. The eBay cuts are particularly disturbing in that eBay was “under pressure ” from billionaire Carl Icahn to “improve profits.”
Once again, a few well-heeled corporate executives will line their portfolios with more cash, while 6,400 folks are left to wonder why the hell they worked so hard for these companies only to be let go for “improved profitability.”