<p>We just learned that our division is being sold. We’re told that we’re all being offered positions and the same pay with the new company.</p>
<p>Kind of freaking out a bit… has anyone else gone through this that can give me an idea of what to expect?</p>
<p>Yes. Comapny A (American) was totally taken over by Company B (International) five years ago. Company B immediately began imposing its radically different corporate culture and business practices. It has been very painful.</p>
<p>Be prepared be flexible. There are certain to be many, many changes. Good luck…</p>
<p>Happened to me a long time ago in 1982. Big international company B based in Pittsburgh took over manufacturing Company A based in the Chicago burbs. The employees of Company A were bussed up to a local movie theater for a big pep rally by Company B. How exciting, how wonderful, and two weeks later, a massive layoff in which the marketing department (my department) was eliminated. I left the Chicago area and moved myself back to the east coast. Considered stopping in Pittsburgh to make my job pitch – but decided not to bother.</p>
<p>The big issues – all employees with three years or more service were instantly vested in the retirement plan. I will get $35/month on my normal retirement date in 2020. Which seemed like light years away at age 27 – and I could really have used the cash out which was what you got a less than three years of service. More to the point, the health insurance ended at midnight. I was eligible for COBRA.</p>
<p>Sometimes it’s better. Sometimes not.</p>
<p>It depends on how productive your company is and how productive each person is in his job. On top of that, it depends on whether the acquiring company is making the purchase to add something that they don’t already have, or whether they are just increasing the size (customer list, etc) of what they are already doing. </p>
<p>If they already know what they’re doing in your area, then jobs may ultimately be at risk if they feel your staff is excessive, or they disagree with how you do things. If they aren’t that familiar with your business, but want to get into it through the acquisition, they’ll be more careful and circumspect about making personnel moves. There’s no real playbook here. Just try to make yourself useful.</p>
<p>It depends on if there are redundant departments within the company and the reason for the buyout. Are they expanding market share or buying out a competitor, is the buyer trying to save themselves or was your current company in trouble? Is it two huge companies merging or a much bigger company buying a much smaller one? I’ve seen it work out fine, but in my personal experience it has not worked out well. Every corporate policy and benefit you have now is probably going to change. If I were in your shoes I would have two plans in place, one to stay, one to go and I’d work on your resume and just look at available opportunities in other places.</p>
<p>My fianc</p>
<p>Fendergirl, I was in this situation. Does the acquiring firm already have a dept similar to yours, or is this s a new type of business for them? That’s the first question, since if they are expanding size, there will be redundancies (read: lay-offs). If they are expanding type of operations, there are fewer lay-offs, if any. </p>
<p>Next, write your resume, just in case. Next, try to fit in with the goals and culture of the acquirer. The people who got laid off from my employer were the ones who complained loudest about the new culture, or who started too many sentences with “well, the way we used to do it…” </p>
<p>Good luck.</p>
<p>Yes and get your resume together. It may take a while but it will be very different and you may find yourself without a seat in a game of musical chairs.</p>
<p>We haven’t gotten too much info yet. I currently work for a division that branches off a fortune 100. We’re small in comparison to Corp… about 2k employees. The company that is buying us, they are fortune 50 and much bigger then even our Corp is. We’re going to be under one of their divisions.</p>
<p>What were tolds is that were all moving over and the management team as well and everything will still be ran by them as it is today. My thought is that over time things will change though.</p>
<p>Haven’t heard about benefits yet but our president told us our years of service are going to carry over with us. I did Google their corporates benefits and found a benefits guide from 2013 with prices. I’m not sure if everyone is under their corporates benefits or if the divisions are different. That being said, what I looked at actually wasn’t too bad. Similar vacation time… looks like they put less in 401,k then my current company does but that’s to be expected since ours is really good. (I put in six they put in nine).</p>
<p>I do believe they have other businesses very similar to ours(yet different) but they seemed really excited about bringing us on board and that we are all specialists with a lot of expertise in our area.</p>
<p>I also have a feeling my entire team might retire, leaving just me. The cheese stands alone,!! They don’t have to but they all have the years of service in so we’ll see what they decide to do.</p>
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<p>I couldn’t agree more. Try to shift your mindset so you truly feel like you are an employee of the acquirer. If your mindset is right, your behavior will be too. Try to be positive, enthusiastic, and eager to move things along more to the acquirer’s liking. It won’t guarantee that you won’t be deemed “redundant,” but it will help your chances.</p>
<p>Sometimes the acquisition rationale is to add a product that the exist sales/distribution network can sell. In that case, the people who make the product/ provide the service are at least initially insulated from change, while the sales force is not (necessarily).</p>
<p>Hayden’s comment is on point. If you are responsible for the success of a business that your company just spent a bunch of money to purchase, then you want people working for you who want to be there and who are committed to your success.</p>
<p>Yes, and it was disastrous. First, the corporate climate changed drastically, and ultimately they laid everyone off - the complainers AND the non-complainers alike. </p>
<p>However, it’s not always that way. I think it pays to be optimistic, flexible, but prepared - get your resume in order, maybe start networking. Don’t drink the kool-aid of “we’re happy to have you aboard, nothing will change.” And don’t get caught flat-footed like I was!</p>
<p>Many times, between DH and myself. Sometimes, it was little enough change, things that may well have changed even without the purchase. Sometimes, the change was jarring and drastic, like elimination of departments and total restructuring after a honeymoon period when all were assured there would be no such changes. Sometimes, better opportunities.</p>
<p>My brother went through a very rough stretch when this happened to him. He was a rising “star” at the firm with every prospect of doing extremely well. When departments were merged after the purchase, the decision was made to simply strip him of his client area and base, and turn it over to others from the company that bought his firm. He ended up suing for a number of reasons, and though he technically won, it hurt him in terms of time spent in this, the negative energy and stress and his prospects for future employment. An example of a pyrrhic victory. </p>
<p>DH and I had told him to start securing his clients and looking for other opportunities, but he was so sure he would be fine as the new heads of the company embraced him and his book of business so enthusiastically that first year or so. </p>
<p>When something like this happens, it is an announcement that there are true changes that may be coming so get ready to have some new opportunities, both there and elsewhere.</p>
<p>Been through this several times. Be very, very flexible. Open your mind. Refuse to cling to the way things have been done in the past. Listen to your new overlords with much respect. Keep your eyes and ears open at all times.</p>
<p>It is possible to come out smelling like a rose but seriously, only if you follow these rules.</p>
<p>Not drinking the kool aid. I work in IT, so I think if we keep using our systems were ok. We just spend millions on an upgrade. If we start using theirs, who knows. That being said x the higher ups like me a lot and I always do a great job. I’m trying to keep an open mind. And brush up my resume just in case. ;)</p>
<p>We’re told the transition will be about 12 to 18 months.</p>
<p>Has happened to me and has happened to my brother. Both turned out very well. I agree completely with the advice to be open-minded. Also be flexible and be willing to show how great and cooperative you are. In my case, my company was bought by a much larger company that wanted an outpost in NYC. They had plans to expand and pour resources into the office and keep everyone. That’s exactly what they did. They came out here with open checkbooks and did things like give parties, lunches, dinners, social events to make the people here welcome. No one lost jobs, benefits and pay were better and they did exactly what they said they would. Expand the office lavishly, support its growth patiently and treat the new employees as valuable team members.</p>
<p>My brother’s office was bought out by a huge, multi-national corporation based in another country. There were some hiccups on the way to making everything come together nicely, but the company also had great intentions that they followed up on and it ended up very well for everyone.</p>
<p>Make sure that in addition to fine tuning your resume you are actively networking. Going to professional events. Joining trade groups. Becoming known for your expertise. Hone your elevator pitch of what you do and have accomplished. In addition to giving you opportunities later, it adds value to your employer if you bring back industry info.</p>
<p>It sounds like my friend’s experience is not all that relevant, but when her dominant US manufacturer sold her unit to a smaller outfit, they ‘sold’ the employees too, meaning that they could not be rehired elsewhere by the seller for 3 years. So she went from being nearly done with a management training program that had involved several cross country moves to being stuck at a small outfit in a small market.</p>
<p>Not me, but my dad back in 1999. I think the actual purchase of the company was before that but it takes a while to get organized. He lost his job for about 8 months but one of his managers from the bought company continued working there and hired my dad back.</p>
<p>I don’t know any more details than that though (other than the companies - but I don’t want to say), because I was 9 at the time.</p>
<p>I did check out the new company that we will be joining online and it looks like they have a ton of job opportunities, which could be great for growth (as long as could do them from here). They’re also growing a lot and expanding. That’sgood news too… and they just iinherited a bunch of employees who know their stuff. I’m just ask a bit worried. I hope we get more info soon. </p>
<p>All I can do is so my job the best I can and keep an open mind.</p>