Paychex Rolls Out a $400 Million Share Repurchase – Buyback Wednesdays

Paychex, Inc. (PAYX): $122.19

Market Cap: $43.14B

EV: $42.61B

DocuSign (DOCU) decided to lay off 6% of its workforce this week. Last month, Microsoft (MSFT), which closed its acquisition of Activision Blizzard last year, decided to lay off 1,900 of its videogaming staff. Last year, Meta Platforms (META), in the spirit of Mark Zuckerberg’s “year of efficiency” laid off a whopping 22% of its staff.

January started with 16,000 tech company layoffs and the damage was not just limited to the tech sector. UPS decided to cut 12,000 positions. Staff cuts from the unfolding regional banking issues have yet to hit the wire. While all of this sounds ominous, it is hardly a drop in the bucket.

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