Company Acquisition
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
| Parent company just made an acquisition which will affect my subsidiary company in terms of absorbing many people. About 99% sure my job is in jeopardy due to redundancies, the way my supervisor is acting and things they're requesting, etc. Had already been planning on cutting hours (unknown to them) to begin leaning out as my partner and I have planned to FIRE for a while - so no real financial concerns - although had hoped to stay employed part-time for a couple more years. My question: who has been through a similar process? Hopes of severance? How does this play out? |
Anonymous
| The bigger the company, the more likely you get severance. For a large acquisition, it can take a long time to actually start combining groups and cutting. I think my little group was forgotten about for a year before they got around to firing us. Boss's boss was let go early and we just kind of existed on autopilot after that. |
Anonymous
This is helpful - thanks! |
Anonymous
| I'd have my resume and files ready to go at any minute, but also hang on and ride it out. Keep an eye on the job market, if something amazing comes along than it may be worth it to apply and forgo severance. |
Anonymous
| Redundant roles cut both ways - whoever is doing your funaction at the other company may be eliminated instead of you. It depends on how you measure up relative to each other, including in terms of compensation. No way to know how it will play out until it does, but it would be prudent to prepare to need to find new employment. |
Anonymous
+1 It depends whom they like better, OP. They may go to bat for you, or instead make excuses to be rid of you. |
Anonymous
My suggestion is don't bet on riding it out for a year. It could happen, but the cost-benefit of the new org has to be realized, and there is already a list of RIF candidates for both sides of the merger. And expect multiple waves of redundancies. In terms of severance, it will depend on your company and any precedence that has been set with similar RIFs. You might get 2 weeks for every year of service. You might get one month for every year of service. It is rare for rank and file employees to receive anything more than that, and usually bonuses and vesting are out the window too. If your group is being eliminated but it is determined that they need you for a specific period of time or for a specific project, they may inform you of the redundancy and offer a retention bonus to keep you until the milestone is met. That's usually how these things play out. If you ever want to get hired back, or use anyone as a reference in the future, keep that in mind and stay professional until exit day. |
Anonymous
| Keep your head down, and remember to use the new cover page on the TPS reports. It can be a while until they get to you. |
Anonymous
| This is all great information - thank you for taking the time to share. |