"Cost synergies" means "layoffs"

I saw this self-congratulatory article about the corporate merger between CBS and another company: Spinning Off Radio Is A Great Transaction For CBS, gleefully concluding that "the combined company is expected to generate meaningful cost synergies."

Suspecting it was corporate-speak for something more plain (or more sinister), I looked up what "cost synergy" means. Investopedia doesn't pull any punches: "The savings in operating costs usually come in the form of laying off employees. Often this term is used in press releases to add a politically correct spin to bad news."

So if you see such a phrase, it might mean you're losing your job, or your coworkers will.