As one might have anticipated following Icahn's final takeover and the appointment of CFO Laura Thomas as interim CEO, the company is now cutting expenses. That means downsizing, headcount reduction, layoffs, whatever you want to call it. It is not yet clear how extensive the event is, nor which departments have been most affected. But since the company is fully private now, I doubt they will be telling us anything officially.
Good luck to all those affected, whether directly or indirectly. The good news is that despite the difficult job market overall, the telecommunications and internet infrastructure sectors are pretty steady, and there are companies out there hiring. The bad news is that there will inevitably be others hitting the job markets over the next few quarters from the LVLT/GLBC integration.
At some point, Carl Icahn will surely realize that he really shouldn't own a company like this. He doesn't know how to make money with these assets, and hasn't been willing to hire someone who does and give them the independence to do it. Actually, the simplest explanation for the current situation is that he knows it now, and is cleaning things up for a sale next year. On the other hand, perhaps Ms. Thomas has an extensive rejuvenation plan in mind - we shall see.
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