WSJ: Fear of Missing Out Drives M&A Deals
"Through May of this year, there have been about 8,800 announced merger-related job cuts, which translates to an annual pace of about 21,000, according to Challenger, Gray & Christmas Inc., an outplacement-services and executive-coaching company. That is less than in the last takeover boom. In 2006, for example, there were nearly 77,000 such cuts, according to the company’s data.
John Challenger, the firm’s chief executive, says there have been fewer job cuts during this boom partly because companies had already shed so many employees during the recession. In many cases, he says, they are in need of skilled workers, especially in industries like technology and health care that are consolidating now."