Pay Cuts Become Permanent for Many Americans During Pandemic

From what I’ve seen many companies are lowering their workers wages and doing layoffs solely based off stock prices, which is insane. Many businesses have the exact same number of customers, even more revenues in some sectors, and are still laying workers off, while expecting their current workers to pick up the slack for no more or less pay.

I understand stock price is directly related to the speculated value of a company, but when you are posting record profits or earnings, especially in risk based sectors like insurance because fewer claims are being paid out, at what point is this just corporate greed?

I’m not for regulation in business but at what point does someone step in and say why are you firing people just based off this imaginary perceived value that the company is worth when no profits or customers have been lost?

/r/Economics Thread Link - bloomberg.com