Late Thursday, Bebe Stores Inc. BEBE, +7.53% said in a statement that it will lay off over 50 employees, or nearly 2% of its workforce, to save about $4.8 million a year. In the next paragraph, Bebe said it authorized a $5 million share repurchase program, which at current prices represents nearly 6% of the shares outstanding. The women’s apparel and accessories retailer did not respond to a call for comment.