If the economy turns around, do you anticipate any West Layoffs 2021? Any news or rumors?
10 replies (most recent on top)
Looks like Apollo may be doing this just to get on this list.
My position was replaced with a "newly created role"
The only person on my team that was retained had to get a "newly created role"
"Apollo also made key hires in newly created roles designed to continue to strengthen culture, diversity & inclusion, retention and citizenship at the Firm"
https://www.apollo.com/stockholders/press-releases/2020/12-16-2020-130115335
The last response is laughable- the current "president" enabled vulture capital companies like Apollo to thrive during his administration. What's happening now is a direct result of his "leadership". Could write a whole doctoral thesis on this-lol.
more lockdowns coming. fraudulent "president" elected to office. chicom leadership taken over the world. job market has dried up. more layoffs coming for all companies. if west corp makes it, it will be a miracle.
Apollo buys mostly distressed assets and loots them for every dollar they can extract. I call them pirate equity, because they are a gang of plunderers. Leon Black didn't become a billionaire by running a charity.
Take a look at the history of their acquisitions. Claire's, Rackspace, and Caesar's are a good place to start. Once you understand their model, you'll have a better idea of what Intrado is going to go through.
https://www.bloomberg.com/opinion/articles/2016-06-01/apollo-debt-discount-shopping-at-claire-s-may-fall-short
Does this sound familiar?
Sears is a prime example of how hedge funds and private-equity companies take over retailers, encumber them with debt in order to pay themselves massive windfall profits, and then leave the retailer without adequate operating capital to compete.
Part of the strategy is to sell off valuable real estate, the better to enrich the hedge fund, and stick the retail company with costly rental payments to occupy the space that it once owned.
In the case of Sears, the culprit is a hedge-fund operator named Edward Lampert, once a senior merger guy at Goldman Sachs. In 2005, Lampert merged Sears with Kmart, loaded both up with debt, and used some of the debt on stock buybacks to pump up the share price and enrich shareholders, notably himself and his hedge fund.
The Sears story shows how hedge fund operators can thrive even as the underlying company is pillaged. In a decade, 175,000 people at Sears/Kmart lost their jobs and revenue was cut in half. Various pieces of Sears were sold off. Lampert did just fine.
It Was Vulture Capitalism that K–led Sears...does this make the picture any clearer? Get out!
Apollo is known as a vulture capitalist, they leave corpses behind in their wake after they've extracted the maximum amount of money out of a dying company. There will continue to be quarterly layoffs until the entire company is dismantled.
It’s owned by private equity. Which means it’s about numbers on paper and shareholders. It is not about innovation, creativity, expansion and certainly not the worker.
Micromanagement and manipulation through fear are the preferred drivers now. Accept this or find other, more humane, employment.
They stopped being transparent with us. Everyone in Omaha should be worried about there job and if you notice everything is going to a portal or overseas. Automated. They need to start being honest but they never have been. That was West, that’s Intrado.
Always expect layoff at West/Intrado. Apollo will continue layoffs to improve the bottom line. Get out now.