We have 5000 employees, I can bet we'll eliminate around 1,500 positions over next two to three years. Blackstone will roll in and slap the management. Rees is a consultant, consultants are really good in cost control, so we'll need a new leader who can grow sales. Just my two cents, this is just a beginning, the moment Blackstone gave us money we agreed to cut labor cost. That's how they do it, now they will further depress the stock price and move in and buy the whole company.
layoffs in progress throughout Asia, Middle East and Africa...no transparency, no clear process. hence people are made to wait. motivation is super low. cutting off people without time for handover. wrong people selected for layoff and asked to come back as contractors. total messed up company.