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EpicRandy on 08 February 2024
Not only it is likely and logical that ABK already had a plan for this, the hold-off was likely due the the merger process itself.
If you place yourself in MS's shoes, if ABK were to do mass layoffs anywhere between January 2022 and October 2023 you would be pissed as those would likely not align fully with what you're aiming for and would result in an entity that is different than what you intended to purchase.
Likewise, MS obviously could not provide any such plan to ABK since it would have been a clear indication that ABK was not acting independently anymore.
Obviously, I hate layoffs just as anyone, but at least I understand it to some extent.
