Oooooohhhhhh Fuuuuuuuddddddggeee

[Pokit N]

Just found out my company is being bought out. Company wide conference call at 10 AM...but it's already on Yahoo Finance.

http://www.reuters.com/article/marketsNews/idCNBNG43366620091123?rpc=44

[Pokit N]

Had the conference call. They say they aren't letting anyone go. They'll let us know more details in the future, but for now everyones still got a job and they say all of us are better off now than we were before. Who knows..scary morning though.

[Ultra86]

I don't believe that you are better off, if I were in your shoes. I'd start looking elsewhere for employment. When companies merge, they ALWAYS eliminate a few jobs out of redundancy/efficiency/cost savings. If you think you are in an essential position, you're probably OK, but this scenario has happened to my relatives and they had to go looking for another job. Again, I'd look just to be prepared, but obviously wait for more information.

[Pokit N]

I don't believe that you are better off, if I were in your shoes. I'd start looking elsewhere for employment. When companies merge, they ALWAYS eliminate a few jobs out of redundancy/efficiency/cost savings. If you think you are in an essential position, you're probably OK, but this scenario has happened to my relatives and they had to go looking for another job. Again, I'd look just to be prepared, but obviously wait for more information.

Definetly a good time to polish up the old Resume. Thanks for the advice.

[Ultra86]

Looking for another job is something you can do in your own time and could be exciting depending on what you find while you are still employed. The only other person that needs to know is your spouse, too. Ha, it is interesting looking for a job for about 3 months, but when you are unemployed and looking after that point, it just get tedious, to put it nicely. But I digress. You live in the Chicago area, there will be other opportunities available. Maybe something so much better than your current position that it would be worlds better to switch?

A good quote: I am only as loyal to my company as they are to me.

[OSTATE84te]

Only he didn't say fudge, he said the other f-word, the queen mother of all curse words.


Sorry, couldn't help the "Christmas Story" reference.:D

[CTeamPoke]

I don't believe that you are better off, if I were in your shoes. I'd start looking elsewhere for employment. When companies merge, they ALWAYS eliminate a few jobs out of redundancy/efficiency/cost savings. If you think you are in an essential position, you're probably OK, but this scenario has happened to my relatives and they had to go looking for another job. Again, I'd look just to be prepared, but obviously wait for more information.

Or you could step up your preformance and start kissing some ass!

[Pokit N]

Only he didn't say fudge, he said the other f-word, the queen mother of all curse words.


Sorry, couldn't help the "Christmas Story" reference.:D

The F Dash Dash Dash word!!

[okstateguy987]

This sounds remarkably similar to last week's episode of The Office...

[Pokit N]

This sounds remarkably similar to last week's episode of The Office...

All of my coworkers said the same thing. I missed the episode though.

[Ultra86]

Or you could step up your preformance and start kissing some ass!

But my lips have gone callused and numb from that... :p:D

[Chris H.]

All of my coworkers said the same thing. I missed the episode though.

hulu.com

[OP 9000]

FWIW, I've had this happen to me twice.

They call that conference and will straight up lie to all of you. Part of what they paid for is the employees, but they don't want you all jumping ship... so they'll tell you all what you need to hear... and in some cases start doling out stock options.

But any time companies merge.. people are going to get laid off. They'll take thier 2 accounting departments, and 2 sales departments, and 2 marketing offices, pick the best and let the rest go.

Always make sure you look out for #1, and no matter how good a relationship you have with your boss, don't believe anything they say.

[Pokit N]

FWIW, I've had this happen to me twice.

They call that conference and will straight up lie to all of you. Part of what they paid for is the employees, but they don't want you all jumping ship... so they'll tell you all what you need to hear... and in some cases start doling out stock options.

But any time companies merge.. people are going to get laid off. They'll take thier 2 accounting departments, and 2 sales departments, and 2 marketing offices, pick the best and let the rest go.

Always make sure you look out for #1, and no matter how good a relationship you have with your boss, don't believe anything they say.


I'm already preparing for my meeting with the bobs..

[jetman]

FWIW, I've had this happen to me twice.

They call that conference and will straight up lie to all of you. Part of what they paid for is the employees, but they don't want you all jumping ship... so they'll tell you all what you need to hear... and in some cases start doling out stock options.

But any time companies merge.. people are going to get laid off. They'll take thier 2 accounting departments, and 2 sales departments, and 2 marketing offices, pick the best and let the rest go.

Always make sure you look out for #1, and no matter how good a relationship you have with your boss, don't believe anything they say.

I've been through this twice also and Greg is exactly right. You won't know the truth until you're sitting in the HR department getting laid off. Not saying that will happen to you, but it's going to happen to more than one of your coworkers. These days, merging means consolidating, downsizing, and streamlining, not 2 former different companies working in tandem.

[PeteD]

I've been through this twice also and Greg is exactly right. You won't know the truth until you're sitting in the HR department getting laid off. Not saying that will happen to you, but it's going to happen to more than one of your coworkers. These days, merging means consolidating, downsizing, and streamlining, not 2 former different companies working in tandem.

Yep, and depending on who bought whom and how top management is structured after the merger, it's likely that the employees from the company that got bought get cut more than the employees of the buying company. That was my experience in a similar situation.