Does this mean no more layoffs?
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It really depends. Apollo is known for the cigar butt strategy which is where you buy companies that aren’t doing great but have potential to be fixed. They previously bought ADT and helped significantly in turning ADT around without layoffs. They’ve also bought the former cloud provider Rackspace which ended badly. There were significant layoffs at Rackspace conducted by Apollo and the turnaround failed and the company died. I’m not sure what Apollo’s investment thesis for IGT is. They’re most likely keeping it private for now.