Acquisitions can spark public excitement as recognizable brands are bought by recognizable companies, shifting the competitive landscape for their particular industry. But for the workers caught in the middle, acquisitions can be synonymous with anxiety.
Layoffs are often the assumed first step: The acquired company may make some cuts to their workforce, at least to ensure there aren’t redundant roles — there usually aren’t two HR departments, for example. In one of the more notable acquisitions of 2023, software company Splunk cut 7% of its workforce, or a total of 560 jobs, ahead of being acquired by Cisco.
