Berkshire Merger With Lubrizol For $9 Billion

Warren Buffet announced one of his largest deals Monday with the acquisition of Lubrizol, a specialty chemical maker based in Ohio. It’s too early to tell whether layoffs will follow.  However, mergers and acquisitions often result in some job loss, as seen in recent examples, including AOL and Huffington Post, which resulted in 900 job cuts.  A merger between M&T Bank and Wilmington Trust saw 720 jobs eliminated in the combined entity.  In addition to rank and file positions, more CEO changes have been tracked due to M&A activity this year compared to last.  Through February, seven CEO changes resulted from mergers and acquisitions, compared to three at the same point in 2010, according to Challenger tracking.  Lurbrizol CEO James Hambrick is likely to keep his title, however, as Buffet praised his performance in the post he’s held since 2004.  How many merger-related job cuts were announced so far in 2010?  Are merger-related job cuts and CEO changes expected to increase this year?

Our latest CEO report: February11 CEO Report


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