AM I NEXT? IS THE HANDWRITING ON THE WALL AT ALTRIA AND PHILLIP MORRIS

Am I Next? Altria and Phillip Morris Merger?

New York, NewYork-based Philip Morris International, the iconic cigarette and tobacco manufacturer, and Richmond, Virginia-based Altria Group, the largest producer of tobacco and related products, are discussing a merger that would see Philip Morris re-united with Altria after their 2008 spin-off. Talks are progressing and an announcement is expected by October, 2019. Since both companies recognize the synergies in a combined manufacturing operation and the elimination of duplicative departments, functions, and personnel, employees of both companies should be acutely aware of how this potential merge will affect their positions.

There is no doubt that severe disruptions to the tobacco marketplace are occurring as governments and groups work to reduce the use of conventional tobacco products, including heavy taxation to incentivize consumer behavior. A similar push appears to be under way for electronic “vaping” cigarettes which are little more than addictive nicotine delivery systems. Both vaping and cannabis products promise more legal challenges.

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?

AM I NEXT? IS THE HANDWRITING ON THE WALL AT GANNETT AND NEW MEDIA (GATEHOUSE)?

Am I Next? Merger Layoffs at Gannett, New House Investment Group, and Gatehouse Media?

There is little doubt in anyone’s mind that conventional media has lost much of its audience to the internet and consolidation and economies of scale are one of the few remedies to allow these entities to survive. So it should come as no surprise that the Fairport, New York-based Gatehouse Media, owned by New Media Investment Group (owner of 150+ local newspapers) will merge with McLean, Virginia-based Gannett (owner of USA Today and 100+ others). The new organization will be operated under the Gannett brand and be headed by New Media CEO Michael Reed. The deal is expected to be finalized by the end of 2020.

According to a joint statement issued by both companies, “With strategically-aligned leadership and significant scale of operations, the Merger will accelerate the combined company’s digital transformation. The Merger also affords an opportunity to realize run-rate cost synergies of $275 - $300 million annually across the combined company in a judicious manner, while continuing to invest in newsrooms.”

According to its filings with the Securities and Exchange Commission, Gannett had an estimated 16,980 employees at the end of 2018 and GateHouse had and estimated 10,638 employees. This will surely result in layoffs as the companies consolidate operations and move toward a digital platform which requires few employees to maintain operations.

The operator of the combined company will continue to be the New York, New York-based Fortress Investment Group, itself owned by Minato, Tokyo, Japan-based multinational conglomerate SoftBank. Fortress will remain in operational control until 2021 and exit with a golden parachute.

Definitely, the handwriting is on the wall for employees in duplicative functions or associated with operations to be discontinued.

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?

AM I NEXT? THE HANDWRITING IS ONE THE WALL AT RAYTHEON AND UNITED TECHNOLOGIES

Am I Next? Raytheon and United Technologies has agreed to merge. The handwriting is on the wall.

The handwriting is on the wall as Farmington, Connecticut-based United Technologies has agreed to merge with Waltham, Massachusetts-based Raytheon in an all-stock deal to create the second largest defense contractor (Boeing is number one) in the nation which may pose significant risk to employees in duplicative functions, not to mention employees of the companies that will be divested. The pressure to restructure, cut costs, and please Wall Street as the companies assume $28 billion in debt will be enormous.

The new company will be called Raytheon Technologies Corp. with the merger expected to close in the first half of 2020, following regulatory and shareholder approvals and the divestiture of Otis Elevator and Carrier Air Conditioning as separate entities.

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?