Allergan and Abbvie are dialing up job postings in anticipation of their big deal vote
Allergan and Abbvie agreed to a $63 billion mega-merger earlier this year, that was tipped off in the hiring data. Now, the hiring data is saying something new.
It's not abnormal to see a company slash job postings before a strategic, transformative deal - and that's exactly what Allergan did over the last few months (until recently). After taking a dive, beginning in mid- to late-August, Allergan job postings began to climb, growing 27%.
Abbvie, too, is posting more jobs - in fact, job postings are around an all-time high. That both companies experienced an uptick in job postings is likely a good sign and a signal that the integration plans are being shaped as we await a deal vote. But, soon, that too will come to pass. Since mid-August, Abbvie's job postings increased by 10%.
What's it all about? It's likely a sign that the deal is going through when investors meet Monday, October 14, and that the companies are preparing for their future together. Because - as we've also seen - when companies are fearful their mega-M&A deal could get shot down, they don't return to posting a few jobs - they start posting a LOT.
About the Data:
Thinknum tracks companies using information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.