We're on pace this year to break the record for mergers and acquisitions, with the value of deals projected to top $3.5 trillion, according to The Wall Street Journal.
This is decidedly good news for the shareholders and executives of the companies being acquired. The same cannot be said for rank-and-file employees.
<snip>
The flip side was a near doubling in the number of M&A-related job cuts, to 122,979 in 2005 from 65,810 in 2004.
This year M&A activity has picked up more steam. The most recent news hit Monday with the announcement that Johnson & Johnson would acquire Pfizer's consumer products unit for $17 billion and that Phelps Dodge would acquire two Canadian miners for $40 billion.
So far this year, M&A job cuts are at about 40,000, and layoff announcements overall have been trending downward. But momentum is sure to pick up as some of the more recently announced deals march toward completion.
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