The initial headlines announcing mega-corporate mergers and acquisitions typically focus on Wall Street’s appreciation for improved finances, less duplication of services and staff, the ability to grow faster, and the anticipation of higher returns for shareholders. When P&G recently announced that it would buy Gillette, for example, the fact that 6,000 people would lose their jobs was all but buried in the details of a deal that would link some of the world’s most well-known household brands. Yet, as Wharton professors point out, companies that fail to factor in the costs of layoffs, declining morale, and the chaos that comes from restructuring are headed for trouble.…Read More