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As Layoffs Rise, Stock Buybacks Consume Cash


11/23/2011 7:46:41 AM

off 1,100 employees, it was not because the company needed to save money. In fact, the drug maker had so much cash left over, it decided to buy back an additional $5 billion worth of stock on top of the $4 billion already earmarked for repurchases in 2011 and beyond

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