Columbus, Ohio-based Vertiv, a supplier of power, cooling, and rack equipment and services for datacenters, has announced that it is continuing its restructuring and laying off 130 employees located at their Columbus, Ohio manufacturing facility. The layoffs will be phased between October 14, 2019 and April, 2020. According to published reports, the company has already experienced a significant reduction in force between 2018 and 2019. Vertiv, spun off by Emerson Electric in 2016 and taken private by Beverly Hills-based Platinum Equity and investors who fund leveraged buyouts. In August, 2018, the plan appeared to be to sell the company or take the company public. At the time, it was thought that a valuation of $6 billion would give the investors a $2 billion profit over a $4 billion purchase price. No deal was consummated.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?