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> Alphabet’s Board of Directors today authorized the company to repurchase up to an additional $70.0 billion of its Class A and Class C shares in a manner deeme
by darth_avocado 3y ago
> Alphabet’s Board of Directors today authorized the company to repurchase up to an additional $70.0 billion of its
Class A and Class C shares in a manner deemed in the best interest of the company and its stockholders
The most important item on the report
- office_drone 3y agoAt today's closing price this is 3.6% of outstanding shares
- belter 3y agoAlso...10,000 fired... Employees previous equivalent quarter:190,711 and now:180,895 Edit: 190,711 employees on March 31, 2023
- acchow 3y agoClosest comparison is the last quarter were they ended with 182,502
- omoikane 3y agoLayoff is not the same as "fired". Please use the correct terminology in consideration for those who lost their jobs. Also, the termination dates for those who were laid off in January 2023 would be around April 2023 (the layoff news came earlier due to WARN act), so the employee count as of 2023-03-31 might not include those people. This means a difference of ~10000 can be accounted for by the 2023-01-20 round of layoffs.
- klohto 3y agothis isn’t a fucking HR email thread, fired means layoff in these lands
- hn_go_brrrrr 3y agoThere's a meaningful difference between the two. You're fired for doing something wrong. You're laid off if the company wants to cut costs.
- gitfan86 3y agoThat is what corporate HR and Executives want you to think. Layoffs can make it look like the company is having problems so instead of doing that they will create vague KPIs so that employees will not meet them so they can be fired.
- xen0 3y agoThat doesn't scale. AFAICT, Google didn't go to the effort of creating vague objectives for people to fail at. Instead they've blanket cut teams regardless of their success or performance.
- hn_go_brrrrr 3y agoWhat you're observing is that companies lie, not that there aren't differences between the two.
- klohto 3y agowhatever the drones command. end result is the same.
- danpalmer 3y agoHave some respect. People lost their jobs. They weren't fired because they did something wrong, they were laid off because the company did something wrong.
- citizen_friend 3y agoThis happens naturally with turnover if they freeze hiring.
- jeffbee 3y agoExact same level of authorization in April '22 and '23
- fdsakljalkj 3y agoWhat an odd statement. Care to explain why you think a routine buyback announcement is important?
- zeroCalories 3y agoStock buybacks are done when a company think either 1. they are massively under valued, or 2. when there isn't a better investment for their cash.
- VirusNewbie 3y agoGoogle does it regularly as they pay out so much RSUs they want to keep the same number of shares on the market. You can look and see them historically doing this
- refulgentis 3y agoA side effect is avoiding dilution from RSU grants. Poster is correct: that is not the reason for them. We can confirm this. Compare RSUs granted/year -- $150M -- to buybacks this quarter -- $70B. ~700x as much.
- Mg6yDfjp5U 3y agoWhere are you getting that $150M spent on RSU grants per year from? Unless I'm missing it, I don't see that in the report and it seems way too low. Let's say the average engineer gets $100k/year in RSUs. (I would guess the actual number is higher.) That would only cover 1500 engineers.
- refulgentis 3y agoYou're right, it's too low, see link at bottom: my guess is the $2B number, inclusive of all granted but not vested, is the correct #. In general people way overestimate the # of SWEs at Google relative to the employee #, even within Google. I don't wanna get too cute in public but some fermi estimates including, say, number of employees per engineer at a 100 person startup, and a jaundiced yet correct view of how much is outsourced at a company with a lot of grunt level SWE work common to every company, bridges the multiplier from there. https://www.sec.gov/Archives/edgar/data/1364742/000156459021008796/R27.htm#:~:text=The%20Company%20initially%20values%20performance%2Dbased%20RSUs%20at,million%2C%20$117%20million%20and%20$121%20million%2C%20respectively https://www.sec.gov/Archives/edgar/data/1364742/000156459021....
- WheatMillington 3y agoWhy don't American companies pay dividends? I assume it's not tax efficient to pay dividends in the US?
- wskinner 3y agoIf you as a shareholder receive a dividend of X% of the share price, you owe tax on it. But if the company buys back stock and as a result the share price increases by X%, you do not owe tax on that unrealized gain until you choose to sell your stock. That’s good for investors.
- bobbylarrybobby 3y agoAlso, dividends are taxed as ordinary income whereas stock buybacks lead to capital gains, which almost always have a lower tax rate.
- e_y_ 3y agoQualified dividends are taxed at the same rate as long term capital gains, although the rules for what qualifies can be tricky (special one-time dividends in particular).
- HDThoreaun 3y agoOnly if youve held the stock for less than 6 months. Most dividends are taxed at capital gains rate.
- creativeSlumber 3y agobut there is no guarantee of a stock buyback increasing the stock price by x%, correct?
- nl 3y agoThey are doing a dividend too.
- abkolan 3y agoMSFT pays dividends.
- bdjsiqoocwk 3y agoDo they mention what price?