From the looks of this teaser on YouTube, Google has sometime to announce next month. Mark your calendars for October 4th everyone.
Business
There are 18 posts filed in Business (this is page 4 of 4).
The “Jobs to Be Done” Theory of Innovation
“Last year one million quarter-inch drill bits were sold — not because people wanted quarter-inch drill bits but because they wanted quarter-inch holes.”
LinkedIn Promised Layoffs as Part of Microsoft Acquisition
LinkedIn’s Securities and Exchange Commission filing on their acquisition by Microsoft details the events leading up to the $26.2B price tag. Microsoft’s original offer was $160 per share in cash, but LinkedIn’s CEO, board of directors, and advisors wanted more. In exchange for a higher price, Microsoft CEO, Satya Nadella asked for “cost synergies” to be included in the transaction.
Cost synergies is executives, investment bankers, and management consultants speak for layoffs. Companies all have the typical back office functions such as Finance, Accounting, Information Technology, and Human Resources. These functions become redundant after a merger or acquisition, so they can be centralized at the parent company and eliminated at the subsidiary. It is typical in this type of business transaction. There is no surprise employees will be impacted, but fascinating to see “cost synergies” as a trade for a higher share price.
Steven Sordello, LinkedIn CFO, teamed with Amy Hood, Microsoft’s chief financial officer, to identify the opportunities in cost synergies and finalized the details on June 10th.
Details of all this can be found on page 42 of the filing.