I’ve been through very ugly mergers where people get riffed wholesale.
When everybody is smart, it’s about surrounding yourself with loyalists. It’s no different on Wall St.
When you take over a company you put your people in.
That is a merger, where I think it is inevitable that downsizing occurs—you don’t need duplication of staff.
But in a case where one CEO is replaced with another, is it the case where the incoming CEO fires everyone and starts over? I think the incoming CEO would keep most of the staff, letting go only those whose jobs are restructured out of existence, or who cannot adjust to the new structure.