From a staff point of view, an unfortunate outcome of industry consolidation is job cuts. They are virtually inevitable in most mergers and acquisitions, as 220 workers at Iowa Telecom are finding out.
Windstream closed on their $1.2 billion Iowa Telecom acquisition back in June 2010, and the ArkansasBusiness.com reports that Windstream is eliminating 220 positions there.
“System conversion is a key part of the integration of our two companies in that it eliminates redundancies and enhances efficiency,” Brent Whittington, Windstream’s COO, said in a news release.
We’ve discussed the impact of consolidation on jobs before and it’s no stranger to Windstream. After their acquisition of D&E Communications in Pennsylvania, close to 80% of D&E’s staff was let go. It’s a fact of life in today’s rapidly evolving marketplace – one that I expect will only continue.
This reality challenges workers to embrace where the industry is headed, rather than holding on to its legacy. Keep those skills up-to-date and recognize, follow, and understand industry trends and developments. Lastly, make sure the resume is current.
