Here’s my quandary.
From an investment point of view, do I consider the fact that companies are, once again, laying people off as a good thing and therefore worthy of my investment dollar, or, is the downsizing a sign that the company’s business is faltering, and therefore, not worthy of my investment dollar?
The Keynesian and current Wall Street position is that the less workers, the bigger the profit. They call that productivity, and theoretically, it’s great for stock prices.
The recent announcement by American Express of 5,400 workers being...