#merger

Posts mentioning hashtag #merger

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New name, ChampionX acquisition

SLB Ltd., formerly Schlumberger and the world's largest oil field services company, reported that its recent acquisition of Sugar Land's ChampionX Corp. added $579 million in revenue during the third quarter, the company's first full earnings report since completing the deal.

https://coveringkaty.com/news/fort-bend/schlumberger-changes-name-completes-championx-acquisition-re/

#Acquisition #Merger #Revenue

Since L3Harris has shifted from growth to profits. Layoffs are common.

Following the most recent merger and the creation of the current company in 2019, L3 leadership has shifted from a growth oriented company that made strategic acquisitions into new businesses, to a purely profit driven entity. Perhaps the disastrous acquisition of AR was enough to make them g-n shy about buying any more companies. The entire focus is now on profits for investors or "stake holders". Having established that, it would seem foolish for any perspective job applicant to hope for a long term career with this company. Layoffs have become common place with no regard for talent or an individuals' contribution. Considering that and the blatant reverse discrimination practiced during its' failed "woke phase", it is no wonder the company is avoided like the plague by savvy job seekers.
Read the posts on this site carefully, They are not hyperbole.

#AerospaceDefense #Layoffs #Merger #Profitability #Culture

3Q Financials

I’m confused about what’s next. We have a mediocre-to good quarter financially but in the details there is info about us losing customers with close to 2-3% attrition per quarter. Does that mean our profits were the results of financial engineering or are we just racking up fees on our customers? If we aren’t growing or merging, someone is going to merge with us.

#Earnings #Attrition #Merger

Jefferson Health laying off roughly 650 employees

It’s also not too far off from closing its major acquisition of Lehigh Valley Health Network, back in August 2024, the latest in a decade-long stream of merger deals that swelled the organization to 32 hospitals. Jefferson had already cut 171 workers in January by outsourcing several back-office functions after the merger, and before, it that had cut around 400 as part of a 2023 restructuring.

https://www.fiercehealthcare.com/providers/jefferson-health-laying-roughly-650-employees-amid-significant-financial-headwinds

#Layoffs #Merger #Acquisition #Restructuring

Duplicate Teams

Any tea on what may happen with some of the duplicate teams that are being merged (SD & insert legacy paramount brand here)? Marketing everywhere, MTV/Skydance TV, animation, legal, etc.). Do you think they will finally be merged properly with some grand plan explained to the company?

#Teams #Question #Merger

Oh my god, 3 more years of this loser!!!

Wirth now has three priorities.

First, complete the restructuring and rebuilding of Chevron's corporate culture; second, integrate Hess; and third, extend the concession to develop the giant Tengiz oil field in Kazakhstan, which expires in 2033.
The latter is crucial. When the initial 40-year agreement was signed in 1994, it was dubbed the "deal of the century," as it gave the company access to the oil of the former Soviet Union.

Our concession is valid for another eight years…We have begun working with the government to discuss its extension. I'd like to finish this, not delegate it to someone else," Wirth said in an interview with Bloomberg.

#Leadership #Restructuring #CorporateCulture #Merger #OilAndGas

Writing is on the wall!

Fifth Third Bank has officially acquired Comerica, marking another significant move in what appears to be a growing trend of regional bank mergers under the current U.S. administration. Industry analysts expect further consolidation as economic pressures and regulatory shifts continue to reshape the financial landscape.

Meanwhile, Truist is undergoing internal restructuring. Sources indicate that between 500 and 700 contractors were cut last Friday in Digital and Technology divisions. While the company cited "policy concerns" raised by its legal department, insiders suggest the move was primarily driven by cost-cutting objectives. The timing coincided with contract renewal periods, and many agreements were allowed to lapse without extension.

Additional reductions are on the horizon, including cuts to employee benefits, further contractor downsizing, and full-time staff layoffs. Truist has faced ongoing challenges in the market, with underwhelming stock performance fueling speculation that the bank itself may become an acquisition target in the near future.

#Acquisition #Merger #Reduction #Layoffs

Merger?

Has anyone been reading the media articles bout the information sharing plan on our US Foods website and upcoming merger with PFG in the media? Will that cause layoffs? Will that be a chance for the powerful on the board of directors to select better executives? Some of our executives have sh-t the bed on some of their decisions and do not have the gonads to do what needs to be done. We do like our CEO and he has proven his worth on the stock. But some of his posse don't share his intelligence nor his heart. They may just not give a fu-k about what they need to do since they will be given a golden parachute when the merger arrives. Let's all hope the board reads these posts and proves what we are writing is true and just terminates the d-mbasses for dereliction of duty without the severance.

#Merger #Question #LayoffRumor #JobSafety #JobSecurity

North Atlantic France SAS reaches a key milestone in its project to acquire a majority stake in Esso Société Anonyme Française SA and 100% of Ex

ST. JOHN’S, NL, CANADA, September 24, 2025 – North Atlantic France SAS (“North Atlantic”) announced on May 28, 2025, that it had entered into exclusive negotiations with ExxonMobil France Holding SAS (“ExxonMobil”) for the acquisition of ExxonMobil’s entire stake in Esso Société Anonyme Française SA (“Esso S.A.F.”) and ExxonMobil Chemical France SAS by signing a put option agreement. Following the information and consultation process of employees’ representative bodies, North Atlantic today announces that it has entered into an agreement with ExxonMobil to acquire ExxonMobil’s entire stake in Esso S.A.F. (the “Controlling Block”) and EMCF.

This marks an important step in North Atlantic’s project to establish a long-term presence in France, contributing to European energy security, industrial resilience, and energy transition.

The completion of the project remains subject to customary regulatory conditions applicable to this type of operation, including foreign direct investment control in France, and finalization of certain financing arrangements.

Ted Lomond, President and CEO of North Atlantic, President of North Atlantic France stated: “Our commitment to France is long-term. By building on Gravenchon’s record of industrial excellence, we aim to strengthen energy security and resilience while accelerating the transition to lower-carbon solutions. This project reflects our ambition to grow North Atlantic into a premier transatlantic energy company, with strong foundations on both sides of the Atlantic.”

Simon Fenner, CEO of North Atlantic France stated: “With the signing of this agreement, North Atlantic reaffirms its ambition to consolidate the Gravenchon site and provide it with an ambitious development plan to serve the French energy and industrial sectors. We are firmly committed to completing the transaction by year-end.”

As a reminder, on May 28, 2025, North Atlantic had announced that following the acquisition of the Controlling Block in Esso S.A.F., it would file a mandatory tender offer for the remaining shares of Esso S.A.F. on the same financial terms as the acquisition of the Controlling Block.

Furthermore, it should be noted that the Board of Directors of Esso S.A.F. has convened a Shareholders Meeting on November 4, 2025 to deliberate on the proposal for a distribution of reserves, amounting to €60.21 per share, with payment scheduled for November 14, 2025.

During the discussions between ExxonMobil and North Atlantic over the past months, the two parties agreed to a downward adjustment of the purchase price for the Controlling Block, to reflect certain social liabilities. This downward adjustment will not affect the price offered to minority shareholders of Esso S.A.F. in the context of the mandatory tender offer for the remaining shares, which will be determined after taking into account the various adjustments described in the press release dated May 28, 2025, namely:

• a downward adjustment to reflect the amount of cash distributed by Esso S.A.F. prior to the date of completion of the acquisition of the Controlling Block (i.e., an amount of €113.21 per share, corresponding to a dividend of €53 per share payable on July 10, 2025, and an amount of €60.21 per share in respect of the distribution proposed by Esso S.A.F. and to be paid on November 14, 2025, subject to the approval of the Esso S.A.F. shareholders meeting);

• upward adjustment by a ticking fee mechanism corresponding to accrued interest on (i) a first base amount of €362,000,000 at the euro short-term rate plus 2% per annum between March 2, 2025 and the closing date, and (ii) a second base amount of €950,000,000 at a rate of 2.4% per annum between March 2, 2025 and the closing date;

• upward or downward adjustment to reflect the change in the euro value of Esso S.A.F.’s inventory and equal to the difference between the crude oil value of ten (10) million barrels as of December 31, 2024 and the crude oil value of the same number of barrels as of a period prior to closing that will depend on the date of the contemplated transfer of the ownership of ESAF inventory to a bank.

The final price for the acquisition of the Controlling Block will be definitively set prior to the completion of the transaction and will be communicated to the market in due course.

The completion of the transaction is still expected in Q4 2025. North Atlantic reiterates its commitment to delivering a comprehensive and well-managed transition, with the intention to maintain employment and existing compensation and benefits.

https://northatlantic.ca/media-releases/north-atlantic-france-sas-milestone-project-majority-stake-in-esso-societe-anonyme-francaise-exxonmobil-chemical-france-sas/

#Acquisition #Merger #France #OilAndGas #Benefits

Anyone else FED UP with the belittling of Xerox?

Anyone else fed up with Lexmark belittling everything that Xerox has ever done, despite not exactly being a high performing company themselves. Every.single.meeting it is all about Lexmark/ they are great / we will do it the Lexmark way / Xerox you don’t know anything …. Where are the XErox SLT supporting “their staff” and ensuring there is some balance in the integration conversations. They have turned coats quicker than the blink of an eye. No moral compass. Faceless, feckless and weak.

#Merger #Integration #Leadership #Culture

I have Lost faith in US Foods

Where do I begin? After reading all of these and talking to fellow employees who I have known for 20 years, I have lost faith that we are capable of being a company that cares about its employees and customers. I have been here long enough to know people in all departments so I have been talking to them to see if what is written here is true. Time after time they were able to show me proof of….well…everything. I cannot believe we have arrived here after all of the things we had gone through years ago. I thought we learned that doing things right and doing so by doing the right things for our employees and customers mattered. How can we keep secrets about mold and hackers instead of being honest and simply telling them what we are doing about it. Bad things happen. They do in every company but bad companies lie and try to manipulate the masses and their customers. Is that reallly who we want to be?

I have also gotten to know many leaders here and that includes the new security VP. Isn’t it clear that he doesn’t have the ethical and moral compass to lead one of the positions that require ethics the most. And I am not even bringing up the lack of experience. And you wonder why he isn’t getting things done fast enough and rather throws shade and excuses on others? Do not those articles and what he has already spoken about to many of us even trigger that he is not the right fit for our beloved company, or any other Fortune 500? He is already causing problems with his rethoric and loose lips and I know many of you talk about how you don’t like or trust him. A couple of you have done it when I am around. What else is left? There are over 3000 employees on one of the posts that are screaming for help as one poster so eloquently mentioned on her post. One section below has over 70 thousand hits. That seems to be more than any other company in layoffs.com so take a bow at the damage you are causing to our company name. Especially since you all know customers read these and so will the decision makers who will select the leadership once we merge. Yes we know about that too. His very existence has already caused division and spread rumors that are all turning out to be true and hurts US Foods deeply. For Pete’s sake ELT, do what you know is right. There was a time we knew what great looked like and made the difficult choices easily. Give our coworkers a voice again to report situations that may be dangerous or wrong. The fact that they aren’t able to do that should give you pause and at least 3 and a half thousand employees already have spoken up. Actually, my friends in HR said their own leaders up to the top know the verdict is already out. For Pete sake, put the needs of the employees first.

And these decisions to lie or deceive. Who are we kidding here. Have you forgotten how clear you used to see poor leaders trying to minimize harm and doing so by lying rather than confronting the issues. Be bold and ethical. When all of you weren’t in your current executive positions, do you remember how you felt when things were kept in silent and evasive or hidden actions would happen from your leaders or executives you really wanted to believe in? Do you really want to treat us as blind id--ts? We see and know it all because we are a large yet small company with friends in every department. The IT exec needs to tell the truth of what happened and how you are addressing it and care enough about our employees to tell them enough about the breach to let them know they should not be fearful. Let them know all is well and that all you are doing to try to prevent another attack. The password leaks are scary and we don’t know what that means. Some of us do because we have friends in IT security who tell us but most employees don’t. We understand it is difficult to prevent a hack and won’t lose faith when it happens. Some of the most secure and powerful companies and governments have been hacked. It is not surprising or scary but your lack of honesty and treating us like id--ts is. That same thing goes for the mold and the violence and threat incidents. Do I need to really tell our leaders that transparency brings trust and that harsh consequences for those types of bad employees, create safer work places?

I lie awake at night next to my husband wondering when we will have leaders remember who they were when they were rising and who once said “I will be different when I have that job. I will lead my teams with dignity and honesty”. When and how did that change? But it’s not too late to listen to your heart and us employees and simply do what’s right and take the actions you need to take. We may be merging in the future and who do you think those holding the most stocks and power will want to retain as the new company’s leaders. The executives from one company that dont even get the trust or respect from their employees? Those that lie and deceive rather than speak up boldly and address how problems will be overcome? Those that make bigger profits the right way and with compassion for your employees? Is how you are acting the way you want to teach your children to be?

Please be who I know most of you to be and start to lead and take the necessary moves you need to make. I have seen the comments of lies, cheating to hire some employees, inequality in hiring for positions, taking people who had a proven poor past and were caught lying in articles and admitted to lying, handling work place violence poorly, badly managed safery incidents, etc etc etc. Read these articles and rather than do damage control and trying to find out who the 4000 employees are that are revealing everything, why not just fix the problems themselves . It is a noble idea and actions of true leaders. Your employees are reaching to you for help. Led them and win their trust and respect us again. It is all we are asking for from our executives and friends for which we cheered for to climb that ladder because we believed in them and a vision of true leadership. Be who we all hoped and believed you would be.

#Ethics #Leadership #Culture #Merger

Ready for RTO to burst

Im tired of wasting so much time, money, and energy driving into the office for no benefit. It's such a struggle to find parking and then a desk, let alone nearby your team. And then its a noisy, chaotic environment thats difficult to focus in, but told this is somehow a more productive environment when it just isn't. This clearly isnt about collaboration or productivity or there would be better implementation and feedback routes. The current RTO model is implemented so poorly its doomed to fail, yet employees are paying for bad leadership. I'm tired of adding an extra work day to my week in commuting, only to make it harder to do my real job. RTO is a bubble waiting to burst and I wish it would happen soon so we can figure out a better way forward

#Acquisition #Merger #Debt #Loss #WorkforceReduction

Do most mergers fail?

Yes, a high percentage of mergers fail, with many studies indicating failure rates between 50% and 90%, with 70% to 75% being a commonly cited range. Key reasons for this failure include ineffective integration strategies, poor target identification, delays, a lack of speed, and cultural clashes between the two merging entities. Overpriced aquisition.

#Merger #Acquisition #Culture #Failure

I thought Xerox acquired Lexmark?

…. Or more positively I thought it was a new partnership? But no. Everything I have heard and seen is Lexmark people saying “ we will do it the Lexmark way now from now on” and “what xerox did that was value-added and respected by them for years and years will be replaced by administrative type roles in our repetitive factories off-shore”. Jeez. Do they not realise that every client is different and so there does need to be non-repetitive, thoughtful, insightful work as well? I was positive but I have never come across a bunch of guys who behave in this mid-American bully-boy way. HELP !!

#Acquisition #Merger #Culture

Marathon post merger report: Sep 19, 2025

Fascinating how a storied and successful company like Marathon with a unique culture and technical achievements can disappear and not be relevant again. This is testament to leadership drive for self enrichment and the middle managers who destroyed the morale of the organization.

#Merger #Culture #Morale #CultureShift