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re: Anyone have experience with their company getting bought out?

Posted on 9/26/23 at 9:56 am to
Posted by offshoretrash
Farmerville, La
Member since Aug 2008
10178 posts
Posted on 9/26/23 at 9:56 am to
My company just merged with a bigger company. We won't know anything about changes until after the first of the year. I actually hope there are some management changes made. I don't think it will really affect us much, our mill makes a lot of money.
Posted by Miketheseventh
Member since Dec 2017
5811 posts
Posted on 9/26/23 at 10:17 am to
I worked for Gulf States Utilities back in the late eighties or early nineties and we were bought out by Entergy. The first few years were okay. They had all kinds of stuff they would give us (the only thing I cared about was they would give us Titleist ballata golf balls). Everything had their logo on it. I worked in a power generating plant. I was just a maintenance hand back then. We had 22 electricians on site. They had a round of layoffs after about two years that reduced that number to I think fifteen people. Then a couple of years later they had another layoff that brought that number down to ten electricians. After that I started actively looking for a job on the nuclear side of the company. It was more secure as far as job security but it sucked working in the nuclear plants. I ended up retiring in 2016 after 32 years with the company. My advice is to try and look down the road as to what the company buying your companies ultimate goal is and plan accordingly. After I transferred to the nuclear side they reduced the amount of electricians at that fossil fuel plant to four a couple of years after that. They eventually shut that plant down so I was glad I made the move when I did. That’s my story
Posted by SgtHulkaDawg
Member since Jan 2011
8 posts
Posted on 9/26/23 at 10:30 am to
Going thru it right now. Really the only people retained were in client relations or development. Management was not retained. Sorry, I know this crap is stressful.
Posted by lsuoilengr
Member since Aug 2008
4779 posts
Posted on 9/26/23 at 10:31 am to
Yes. My company got bought out by slb and it was a horrible experience
Posted by statman34
Member since Feb 2011
2964 posts
Posted on 9/26/23 at 10:32 am to
Management, especially higher ups will all be replaced within 3-9 months for sure. They always bring their own people in for these positions. Worker bees for the most part are not touched with the exception of either eliminating products or finding underperforming ones through past reviews. You usually get a good sense of future impacts over the first year also.
Posted by GreenRockTiger
vortex to the whirlpool of despair
Member since Jun 2020
42325 posts
Posted on 9/26/23 at 10:33 am to
quote:

Very likely within 12 months
yep
My husband has worked for two companies that have been bought out - almost everyone was gone in 1-2 years
This post was edited on 9/26/23 at 10:40 am
Posted by MeridianDog
Home on the range
Member since Nov 2010
14255 posts
Posted on 9/26/23 at 10:37 am to
For me, at the admin level, a company buyout was a great big scoop of HELL. I would explain why, but you guys would never read 87 pages of post. The shortest I can write is it was the worst thing in a 50 year career that cost me a 200 mile move and finding a new job. I came out ok in the end but for years I said if I passed a certain person in the sold out company on the interstate and they were in a burning wreck, I would only stop to watch them burn up. Shame on me. Even that is only added to the pile of stuff that makes me feel bad about the sell out.
Posted by LSUDad
Still on the move
Member since May 2004
58868 posts
Posted on 9/26/23 at 10:42 am to
My daughters company was bought out by Jacobs Engineering. She was worried, I asked what she did, just about everything. I told her, they can find Engineers, you should be good.
A big guy arrives a couple weeks later, asked for her. Said, “I’m head of the transition, don’t worry, you won’t lose your job!”

A year or so later, they moved everyone to the big high rise in Houston. She worked with them, till she decided to leave.
Posted by Nelson Biederman IV
New York, NY
Member since Apr 2014
531 posts
Posted on 9/26/23 at 10:56 am to
It just depends on the company and their intentions. Will you maintain hour dba and be a subsidiary of the purchaser? Do they plan on maintaining the location or fold it into an existing location? There are a lot of possibilities.
Posted by AwgustaDawg
CSRA
Member since Jan 2023
7280 posts
Posted on 9/26/23 at 11:02 am to
quote:

What is the likelihood of management getting replaced?


Upper management almost guaranteed...middle management probably case by case, whoever makes the most money.
Posted by Porpus
Covington, LA
Member since Aug 2022
1676 posts
Posted on 9/26/23 at 11:17 am to
If we get bought, I'll likely never have to work again. This is not common at my job level, but I insisted on it when we negotiated my compensation.
Posted by wfallstiger
Wichita Falls, Texas
Member since Jun 2006
11565 posts
Posted on 9/29/23 at 9:41 pm to
Your reputation will precede you, one way or another. Subtlety, make your ambition known to a key stakeholder and learn, learn, learn to put your best foot forward
Posted by pelicanpride
Houston
Member since Oct 2007
1301 posts
Posted on 9/29/23 at 10:03 pm to
If they are buying your company just for the IP or physical assets, there is a good chance you are losing your job. If they are buying your company for what you actually create and plan to build on top of that, you might keep your job plus get a retention offer just to make sure that you stick around. I got a very generous retention offer when my former employer was bought out along with almost everyone I worked with.
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