Brutal capitalism at its best!
It seems like a lot of top tier companies are borrowing money just to keep going.
If you look at their bottom line they seem to have impressive gross incomes but their dept load is a large percentage of that income.
All they have to do to keep going is to break even which seems to be the norm. Real profit is a distant memory.
The power tool business!!! There's one company based in Hong Kong that now owns most of the brands.
They've been shuffling these power tool companies around for years. I wonder how the people that work for these companies feel.
I've seen a global IT outsourcing company go through the pain of a merger and then the inevitable post merger mass layoffs.
I was one of the people "let go" back in February but the writing was on the wall 18 months before that so I had time to get ready.
1000s have been made redundant and now they have a new CEO who is preparing to spin off 3 tiers of the company.
That leaves 2 core tiers and guess what. After the spin offs they will be smaller than what they were before the merger.
Maybe that was the way it was mean to be for this company? So you have to ask,,, Why did they go through a merger in the first place?
and as always it seems that share holders have short memories.
Meanwhile imagine being one of the execs who has to make these decisions.
... and then that decision turns out to be a bad one.
Most of them work from the moment they wake up until they're back in bed 7 days a week.
They make big money but one decision could mean 500 people are laid off. Do you think I envy them?