M&A Picking Up, In the Name of Synergies Your Job Could Go Poof, as at A&O Shearman - What We Did at the End of the 1980s

"A&O Shearman is slashing its global [equity] partner count by 10%, shuttering its Johannesburg office, and closing down its consulting business as part of a suite of post-merger changes." - Bloomberg Law, August 6, 2024 

Given the merger between the two law firms Allen & Overy and Shearman & Sterling those job cuts and restructing moves should have been expected. Creating synergies is the justification often for those expensive joining-togethers. 

However, when they happen those affected typically experience shock. In this situation what has played out is that equity partnerships provide no secure employment. In addition, this could be only the first wave of terminations.

Meanwhile M&A, which soured in the era of high interest rates, uncertainty and aggressive FTC Khan scrutiny of deals, could be in for a strong bounce-back. 

Interest rates seem on their way down. 

The projection of Democrats controlling Inside the Beltway for eight years of a Harris Administration can establish a new normalcy. Those in the prediction business can be taken seriously again. 

And the new order of things can cave to Harris-Walz major donors like LinkedIn co-founder Reid Hoffman and oust Khan. 

At the end of the 1980s merger mania - following the model of Jack Welch at GE who piled on acquisitions - reshaped how middle managers would sing for our supper. Ousted in middle age many of us became accidental entrepreneurs. That was before startups were cool. As yet home offices weren't acceptable but we knew to conserve our funds by not renting out pricey space in office complexes. Overall, we thrived. 

Self-employment can also be a solution to what could be the coming wave of displacement from "good jobs." In coaching, already clients are accepting that option as making common sense. 

Also there are the growing ways to reset how to earn a living with certifications, licensings, and apprenticeships. 

Until the late 1980s, we expected long-term employment security with large organizations. As the vice president who delivered the bad news of a layoff to me candidly observed, "You were knocked off your horse." It was up to me to get back on. The same burden of responsibility is on those affected by M&A.

In business and life you usually have only one shot at whatever. Up the odds of success with Jane Genova. I am an intuitive coach, tarot reader and content-creator. Complimentary consultation (please text/phone 203-468-8579 or email janegenova374@gmail.com)