Mass layoffs. However, still giving promotions out... the audacity to promote your buddies while laying off good harkworking individuals. Absolutely soulless management that casts off people in this market.
Moral of the story? Do not every work for a company that Apollo Global Management bought off. They're laying everyone off to prepare for a sale, it is so obvious. Their silly bonus restructure early in the year was a hint. Took away the managers bonus but gave a gauranteed (nerfed) bonus structure to the tech force. Get rid of all the managers / senior recruiters, engineers etc and keep the tech force until the sale.