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Mergers and Acquisitions

PNC Financial Services to Eliminate 5,800 Jobs

February 4, 2009
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The Pittsburgh-based bank says it expects to save $1.2 billion annually with the cuts, which represent nearly 10 percent of PNC’s workforce of 59,595 employees.
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<i>Dear Workforce</i> How Do We Improve the Odds of Retaining Key Contributors, Especially in the Midst of a Change in Ownership

February 4, 2009
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Our company is being sold, and while the new management takes over, I have been asked to figure out an effective strategy to keep the best employees from leaving amid the upheaval. Internally, we have mulled making improvements to our compensation/benefits packages. Although this should help to some degree, I’m not convinced it aids our larger goal of inspiring these people to stay focused and motivated (especially since their colleagues will be leaving). I know there is no single surefire answer for situations like this, but which strategies might be helpful in improving the retention odds?
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Wachovia Acquisition May Put Leave Plan in Peril

January 23, 2009
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The bank, which was purchased by Wells Fargo for $14.8 billion, launched its innovative leave program in January 2008 to give employees the chance to take up to three years off to care for a sick family member or for other personal reasons.
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Consolidation Seen in Talent Management Software Font size=1UPDATED June 17, 2009-font size

November 20, 2008
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It’s unclear how well spending on talent management systems will hold up given the faltering business climate. The U.S. economy shrunk in the third quarter, and analysts have predicted more trouble ahead.
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Crain Communications Buys Staffing Industry Analysts

November 3, 2008
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In a move designed to improve coverage of the contingent labor industry, Crain Communications says it has acquired media company Staffing Industry Analysts, a provider of research and analysis on the contingent workforce market.
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'Thousands of Jobs' on Block, Merrill Lynch CEO Says

October 23, 2008
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Most of the job cuts will occur in the information technology, operations and ‘corporate-functions’ areas, John Thain says in an interview.
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Revolution Health in Deal With Waterfront Media; Steve Case Stays on Board

October 7, 2008
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Waterfront Media, owner of Everyday Health, announces that it is acquiring Revolution Health Network, which was launched in 2007 by AOL co-founder Steve Case. Revolution Health Network had been exploring strategic alternatives, including a possible merger, as Workforce Management first reported in July.
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More Trouble for Workstream Font size=1UPDATED June 17, 2009-font size

September 30, 2008
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The Ottawa-based company’s stock has been trading for less than 40 cents a share since early June and closed Monday, September 29, at just shy of 10 cents a share.
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Authoria to Be Bought by Private Equity Firm; Company Gets New Capital font size=1UPDATED June 17, 2009-font size

September 30, 2008
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The deal is another sign that private equity firms are keen on human resources software, which is growing quickly thanks to factors including fears of a talent shortage. Bedford Funding will infuse $8 million in working capital “to enhance Authoria’s overall corporate growth.”
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Fannie, Freddie May Need More Than Bonuses to Keep Talent

September 23, 2008
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Although government officials are rushing to provide retention bonuses to keep key employees at Fannie Mae and Freddie Mac, it might not be enough.
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