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re: Anyone have experience with their company getting bought out?
Posted on 9/25/23 at 9:27 pm to Boss13
Posted on 9/25/23 at 9:27 pm to Boss13
My personal experience. They will tell you “Nothing is gonna change. It’s just a change of ownership.” After this, everything will change. When in doubt, refer to the movie “Office Space”. It turns out they were incredibly accurate.
This post was edited on 9/25/23 at 9:47 pm
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Posted on 9/25/23 at 9:28 pm to jbird7
My clients don’t have the desire to micromanage their targets. They get them hooked up through payroll, set earn out targets and let them go.
Posted on 9/25/23 at 9:31 pm to Boss13
Update the resume and start applying.
I don’t care what bull shite management tells you. I am not joking in the slightest.
I don’t care what bull shite management tells you. I am not joking in the slightest.
Posted on 9/25/23 at 9:40 pm to Boss13
Management will stay and help transition 6-12 months then slide into consulting positions for a bit.. ( big office long lunch non compete clause )… then they will disappear and show up six months later in small companies or start a new company together.
Company usually wants to keep the staff employees.. y’all are the ones grinding out the production and making profits ..
Worked out very well for me once.. we got a year salary bonus if we stayed with the new company for 12 months…
Company usually wants to keep the staff employees.. y’all are the ones grinding out the production and making profits ..
Worked out very well for me once.. we got a year salary bonus if we stayed with the new company for 12 months…
Posted on 9/25/23 at 10:02 pm to Boss13
quote:
Company is getting bought out by an industry giant next year.
You at Splunk?
Posted on 9/25/23 at 10:16 pm to Boss13
I do this for a living. It's simple. If your company is a "distressed asset", ie, losing money or in a market that is shrinking, then pepper your angus and update your resume.
If your company is profitable and is a direct competitor to the buyer, the same holds true, but to a lesser extent. A good buyer will pick and sort to keep top performers.
If your company is being bought because it's a good profitable company with products adjacent to or complimentary to the buyer's product lines, then the overhead folks, from HR to accounting to the C-levels, should worry but the buyer is buying YOU and is pretty highly incentivized to keep you. In general. Some buyers still manage to mess that up though.
If your company is profitable and is a direct competitor to the buyer, the same holds true, but to a lesser extent. A good buyer will pick and sort to keep top performers.
If your company is being bought because it's a good profitable company with products adjacent to or complimentary to the buyer's product lines, then the overhead folks, from HR to accounting to the C-levels, should worry but the buyer is buying YOU and is pretty highly incentivized to keep you. In general. Some buyers still manage to mess that up though.
Posted on 9/25/23 at 10:22 pm to Boss13
Without much more info not sure.
Many companies will bring in their own staff and clean house depending on the industry and the relationships people have with clients.
I have come into work before during a change that was not known about and everyone was fired except three people. New keys. They came into work on a Monday the new management came in and introduced themselves amd then the old employees were gone by 9:30
Many companies will bring in their own staff and clean house depending on the industry and the relationships people have with clients.
I have come into work before during a change that was not known about and everyone was fired except three people. New keys. They came into work on a Monday the new management came in and introduced themselves amd then the old employees were gone by 9:30
Posted on 9/25/23 at 10:22 pm to TigerHornII
quote:
I do this for a living. It's simple. If your company is a "distressed asset", ie, losing money or in a market that is shrinking, then pepper your angus and update your resume. If your company is profitable and is a direct competitor to the buyer, the same holds true, but to a lesser extent. A good buyer will pick and sort to keep top performers. If your company is being bought because it's a good profitable company with products adjacent to or complimentary to the buyer's product lines, then the overhead folks, from HR to accounting to the C-levels, should worry but the buyer is buying YOU and is pretty highly incentivized to keep you. In general. Some buyers still manage to mess that up though.
My wife worked at Amedisys and Ochsner on the M&A teams and you’re pretty spot on. I will say that I’ve been through several over the 21 years with the company I work for and we always try to get the company facing employees which are the service reps. The sales folks are hit or miss because I’ve seen it go both ways. Seems the small the companies we don’t bring in the new sales reps but we did keep all the sales reps when we did large acquisition. Office folks, HR all gone.
This post was edited on 9/25/23 at 10:33 pm
Posted on 9/25/23 at 10:26 pm to Boss13
Norm Peterson: All right, first off, they go and fire all the dead wood. Sam Malone: And then what? Norm Peterson: I'm long gone by then Sam
That's all I got.
That's all I got.
Posted on 9/25/23 at 10:42 pm to Boss13
Do everything you can to become irreplaceable. Get in on the accounting/payroll side of things and don’t tell anyone anyone the way you do it. Don’t train someone that’s looking to take your job.
Posted on 9/26/23 at 9:10 am to Rize
If it’s health care related I can give advice.
Posted on 9/26/23 at 9:39 am to Boss13
You work for Splunk baw? I bet nothing really happens for at least a year with Cisco taking over. I have a few old co-workers that work there and they're stoked about the stock price but definitely a little nervous to see what happens with their jobs.
Posted on 9/26/23 at 9:39 am to TCO
quote:
You’re asking an impossible question given this board has no details on the company and the situation.
Oh come on. OP will be fine.
You'll be kept on for at least the next 10 years while the company navigates the market, and your production will continue due to a new love in your life, whom you met online while playing video poker. Fearing the worst, you'll be pleasantly surprised when you see her picture and everything will check out. You guys will get married and have 4 children: Anna, Grace, James, and Olivia. Just on a whim, you will open an Etrade account and take a chance on a small stock IPO after you see Kramer mentioning it one morning on CNBC. Good fortune will net you millions and you'll have a chance to buy back your old company from the venture capitalist firm that picked it up. And you'll always think back to that thread you started on TigerDroppings that started it all.
Also, since you gave zero explanation, none of these things may happen nor make sense nor even remotely apply to your actual real life.
Posted on 9/26/23 at 9:42 am to Boss13
quote:
Company is getting bought out by an industry giant next year. I'm more in the technical and operations side, not management. I understand fully there is a real possibility of losing my job but I'm curious as to other people's experiences.
my company has bought out several over the years, and it's usually weaker companies on the ropes financially, without exception the charity cases have made out like bandits, and often at the expense of employees of the stronger company that's doing the buying
Posted on 9/26/23 at 9:47 am to Boss13
Also management is ALWAYS the first to go.
Posted on 9/26/23 at 9:48 am to UnluckyTiger
quote:
Also management is ALWAYS the first to go.
and usually with some pretty good severance packages
Posted on 9/26/23 at 9:48 am to Boss13
quote:Yup, three times.
Anyone have experience with their company getting bought out?
If you're young and underpaid, keep your head down and welcome your new corporate overlords.
If you're older and paid a respectable wage, start networking right away for that next job.
Posted on 9/26/23 at 9:50 am to Boss13
My previous company was sold twice while I was an employee. The first buyout was fine and I enjoyed working for the new company. The second one was a dumpster fire and the reason I left 
This post was edited on 9/26/23 at 9:51 am
Posted on 9/26/23 at 9:52 am to Boss13
went through it twice and got laid off both times (upper management both times). Decided to go to work for myself after that.
Posted on 9/26/23 at 9:54 am to TigerHornII
quote:
I do this for a living. It's simple. If your company is a "distressed asset", ie, losing money or in a market that is shrinking, then pepper your angus and update your resume.
Good advice.
I've been through several and it's always good to update your resume and take some proactive action.
Depending on where you are in the organization, the risk to you varies. Whatever the new management says, take it with a ton of salt. They only want the changes to occur on their timetable, and their's is unlikely to match your's.
As someone else mentioned, if your product generates significant services income and the new owner is not a service-oriented company, watch out.
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