I have a problem with large companies in general: IBM, Dell, Avery, etc ( I worked for two of them).
All companies (large and small) always expect growth. After a company is large, they are about as large as the company can get.
In the case of Avery, this company is mature, very profitable, and has lots of cash. So, the only way for "growth" is to reduce staff (or replace good staff with cheaper staff).
Can someone explain why lots of profit and cash is so bad? What's wrong with Dividends? When a company is currently working well, why "fix" it?
Can someone explain? Thanks.