Quote:
Originally Posted by foreverwar
Like private equity firms "improved" the AA and Birds Eye? 
AA
"Within months of buying the AA for £1.75bn, the private equity owners Permira and CVC Capital had cut 3,400 jobs.
Permira, the largest private equity group in Europe, last year bought Birds Eye from Unilever and pledged to keep workers' employment terms for at least three years. Within five months it had closed a plant in Hull at the cost of 600 jobs." |
Absolutely, a company who will borrow money to buy another company that already owes money, transfers their debt to the newly acquired firm - then demands better 'performance', usually the cost of running the show - so staff are dumped to show a quick 'improvement'
