Ari Emanuel (brother of a mayor and an influential doctor) merged his talent agency WME with talent agency IMG, and OMG there's too much going out and not enough coming in. The investors want the return on their investment, which costs money. Where to cut? Where is the excess expenditure that can be eliminated without killing the patient?
The bottom line experts have completed their interviews and analyses and determined that a few foreign outposts can be shuttered completely. Duplicate jobs can be combined into one, thereby cutting an expense. There isn't enough income to support the costs, so the costs will have to go. Costs like salaries, you see, and it's all about realizing synergies.
Sorry that it's three weeks before Christmas, but here's your pink slip, back office synergies. You're fired.
The rumour has 100 jobs being eliminated, and out of a staff of 3,000, that isn't a huge number. Unless you're one of those 100, and future employment prospects are rather grim.
Someone has to pay the price of the merger, an investment somewhere in the $2 billion range, and that will take a lot of talent promotion to bring in some considerable commissions. It will also take some synergies getting realized right out the door, to try their luck elsewhere.
Have yourself a Merry little Christmas.