Around 115 folks (~10%) were let go yesterday from L48. Many more were moved to different teams within the BU. It was really hard to see some of the hard-working co-workers and good friends. The only good thing is that people at least received severance and will be on payroll for 2 more months. I know the market is tough out there but I really wish everyone finds a better opportunity pretty soon. I wish everyone good luck.
As for the folks who remain, I think we are doing some really good things in majority of assets in L48. There are couple of assets where we can turn the corner in coming few months. I am sure we are on the right path to making L48 a really valuable entity.