Share buyback Dutch supermarket significant loss for the Dutch economy
The Ahold-stores and the employees working in them are achieving mega-turnovers during this crisis. But instead of sharing the profits with employees, the company invested €1 billion in the buyback of its own shares.
While cleaners, shelf fillers, distribution workers and truck drivers continue to work, lockdown or not, the members of board of directors gaze in awe at the spectacular increase in sales. In the past quarters, sales were more than 15% higher than last year. Not because of good entrepreneurship, but because other sectors had to close down. Although employees have to do their work under often unsafe conditions, directors tirelessly continue to reward shareholders, including themselves, generously.
(The rest of this article can be found on our Dutch website)
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