Thread regarding Prudential layoffs

Updates on rumored Prudential Retirement is looking to sell?

Has anyone heard more about Prudential is looking to sell its Retirement business? Things have been very quiet since Bloomberg published an Article about a potential sale back in April.

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Post ID: @OP+1bgjh4Jy

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They said 90 % of pru employees in scope would get an offer.

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Post ID: @15ogu+1bgjh4Jy

How many won't get offers to move to Empower because of duplicative positions and outsourcing?

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Post ID: @12ysi+1bgjh4Jy

https://news.prudential.com/empower-retirement-to-acquire-full-service-retirement-business-prudential-financial-inc.htm

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Post ID: @Gjvb+1bgjh4Jy

Don't believe the "strategic partner" cr-p. It's a clean sell, and there will be no relationship when the deal is done.

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Post ID: @Grdt+1bgjh4Jy

They are selling the Retirement business to Empower. Then they go on to call Empower a strategic partner, which sounds like there will be some sort of relationship beyond just selling them the business? Selling the retirement business aligns with the transformation and blah blah blah. They'll share more information on the earnings call August 4th.

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Post ID: @Ghbj+1bgjh4Jy

Rumor there might be an announcement as soon as tomorrow

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Post ID: @Exro+1bgjh4Jy

It is obvious they will be Selling their business. If it was published on Bloomberg, then the source is solid. Probably going to sell by the end of the year if I had to guess.

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Post ID: @Cjbb+1bgjh4Jy

Hey folks. The idea of selling the Retirement business is not new. It simply comes down to finding a buyer. I'm sure you've seen the sell off of Retirement businesses over the past decade. With each sale the ask price shrinks for the next seller. Do a few google searches if you are really interested in understanding the industry.

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Post ID: @8wjg+1bgjh4Jy

The email said they will begin the search for a new Head of Sales so why are you inferring this means a sale or merger?

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Post ID: @1ozb+1bgjh4Jy

Head of Retirement Sales and Strategic Relations was just announced today as leaving for "outside opportunities"... seems pretty clear what is happening.

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Post ID: @1yqu+1bgjh4Jy

Haven't heard anything.

They probably locked down the M&A area more after the leak got out.

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Post ID: @got+1bgjh4Jy

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