A conglomerate is a corporation made up of many smaller companies

A conglomerate is a corporation made up of many smaller companies

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A conglomerate is a corporation made up of many smaller companies, or subsidiaries, that may or  may not have related business interests. The buying and selling of corporations for profit—rather  than for the service or products they provide—form conglomerates. The process of corporate merger  often leads to large layoffs because, as companies combine forces, many jobs are duplicated in the  other company. For example, a conglomerate may take over a smaller company, including that  company's marketing department. The conglomerate will already have a marketing department  capable of handling most of the new acquisition's needs. Therefore, as many as half or all of the  acquired marketing department employees would lose their jobs. The same situation often occurs  when two corporations of a similar size merge.  Other types of corporations include  monopolies
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