This sounds familiar to Oracle about...fifteen(?) years ago. This is going off memory so the numbers may be off, but they reported a loss of $600mm for the year and had layoffs, but with some digging they'd just finished a $800mm buyback program for that year, meaning they really had a $200mm profit, but the stockprice wouldn't have been high enough for the executives to max their bonuses.
This sounds familiar to Oracle about...fifteen(?) years ago. This is going off memory so the numbers may be off, but they reported a loss of $600mm for the year and had layoffs, but with some digging they'd just finished a $800mm buyback program for that year, meaning they really had a $200mm profit, but the stockprice wouldn't have been high enough for the executives to max their bonuses.