One web site instead of two. Kiss off redundant IT staff. Do you need two purchasing departments? Kiss off purchasing staff. Redundant accounting staff, expect cuts there. Fewer employees, fewer human resource people needed.
Yes, the job loss is certain. The focus is on EBIT growth, the top line will not change much, take the advantage of low interest environment until 2015. Lucky enough as we are managed in a deflation period. Things will change after H2 of 2015. The assumption of $3 billion of TEG's debt will reduce the dividends to support high EPS growth. Then, the spinoff of its energy arm may add more SP for investors if the management intends to enhance shareholders' value.