Typically, a target company is acquired because the combined entity will provide more value to shareholders than if no deal takes place. Essentially, shareholders expect the combination to create value for them. The value chain of a company is typically derived from the people who operate the various parts of that business. Processes, procedures, formulas, IP, and other critical assets that drive competitive advantage (and are usually the reason for an acquisition) are based on the work of the people from the target company. Eliminating the staff from the target without proper HR and Commercial Due Diligence is highly unadvisable.