Having done hedge fund research, I know that the verdict is still out there but it is not good to hear when activist just go after cutting costs, especially R&D. I also know from my management accounting class that many R&D are some times quite inefficient and when given constraints, the output is better. However, getting rid of entire labs is probably not good for innovation.
Luckily, we have crowd funded research now, experiment.com. Of course, we cannot make up for the massive R&D cuts but it offers a solution for supporting research. So let’s not lament the decrease in R&D but let us support science through crowd funded research. You can also be nice to PhD students 😀