When your company sells you...

[HurricaneHeather]

Anyone else go through this?

We got a new CEO earlier this month and he stated that the portion of our company I work in lost $77 million last year. :eek:

So, the new guy says that within 3-5 years, the HRM(my portion) sector will not be a part of the future of this company. :blah:

Instead of taking 3-5 years to phase us out, they SOLD us within a month of him taking his place and they plan to close on the sale before the 2nd quarter.

So, looks like I'll be using up all my vacation time before then looking for a new job.

I hate the corporate world. :(

[smileyman]

That sux Heather. I hope you can bounce back quickly, maybe before the sale goes thru...

[azoomm]

Yay! Let fun hat week commence!!

[z06boy]

I can understand hating the corporate world. It's been good to me for a looong time but the last few years have been tough. I've worked directly for 3 CEO's. We've had 4 since I've been here overall. The latest change has been really tough and MANY people/divisions have been replaced/sold...etc. and most of the people I've known through the years are no longer here...not too good. You just never know...fingers crossed.

Good luck with your situation/future.

[CrazyKell]

I've never been in this situation (only been in corporate for a year now).....can you move with the company?

Either way the uncertainty and change sucks. Good luck, have fun on your vacation, and hope you find something bigger and better! :)

[HurricaneHeather]

I've never been in this situation (only been in corporate for a year now).....can you move with the company?

Either way the uncertainty and change sucks. Good luck, have fun on your vacation, and hope you find something bigger and better! :)

As of right now(since they just announced it like an hour ago) they are being exceptionally vague about the status of our employment at the time of the sale.


Shortly we will communicate with each one of you individually in writing and provide you with information relative to the transfer of employment process. It is NGA’s intention to provide each one of you with an offer letter before closing and such letter will contain details relative to your compensation, benefits, vacation, holidays and other employee related matters.

[wildchild]

i have been bought/sold (the co that i work for anyway) 4 times in the recent years. it has always worked out pretty well for those of us who stayed on. we have retained all of our vacation, retirement and other bennies. new hires get the new package whuich is basically not as good.

seems lately many companies are being swallowed up.

[Papa_Complex]

HRM? Hospitality and Restaurant Management?

[Rider]

We were sold out to GE 3years ago. Luckily everyone with the exception of admin assistants kept their jobs.

[HurricaneHeather]

HRM? Hospitality and Restaurant Management?

Human Resources Management. :wink:

[Papa_Complex]

Human Resources Management. :wink:

So they aren't going to have a HR department? That should be interesting. Two departments in any company cost money rather than making it; HR and Customer Service. Are they going to drop CS too?

[MissHell]

My company was bought out by another a few years back, thankfully it didn't effect jobs in my area. Just getting used to internal changes, following the new company's processes.

Over the years, there have been several lay-offs, which is always scary.

Good luck to you! Hope everything works out.

[MILK]

Good luck Heather! My company has been sold/merged/and bought others so many times I don't bat an eye anymore but I know I've been lucky!

[pauldun170]

When it comes to HR, the HR of the swallowing company wins out.
Maybe if you are lucky they will do a proper analysis of the two HR departments and figure out if there is anything worth adopting.
Usually they do not.

[HurricaneHeather]

We do HR Management....in other words we manage HR of other companies. ;)

We are an outsourcing company. Customer Mgmt and IT Mgmt is making money like gangbusters, HR is losing money. So we got sold to an exclusively HRM company who aparently know what theyre doing.

[Papa_Complex]

Damn. You got outsourced.

[Cass]

Sucky :( Are you wanting to stay in the same field?

[HurricaneHeather]

Damn. You got outsourced.

:lol: Not really, but okay.

[HurricaneHeather]

Sucky :( Are you wanting to stay in the same field?

Not really. I am pretty sure all of us on our team are going to try to get jobs with our client now. :lol: Our company had a rule against that since we have access to interview questions and other pertinent info for hiring, but if they are calling it quits, then that rule should be lifted.

We are pretty sure our client wasn't going to renew their contract with us next year, which throws a whole other weird spin on this...

I'm tired of thinking about it. I left work at 11 this morning because this whole thing was annoying....and it's too nice of a day to be at work anyway. :D

[derf]

So glad I am federal, I don't have to worry about my job ever being in jepardy, and if my job is in danger of being lost we are all fucked anyway.

Good luck in the possible job hunt.

[Cass]

Not really. I am pretty sure all of us on our team are going to try to get jobs with our client now. :lol: Our company had a rule against that since we have access to interview questions and other pertinent info for hiring, but if they are calling it quits, then that rule should be lifted.

We are pretty sure our client wasn't going to renew their contract with us next year, which throws a whole other weird spin on this...

I'm tired of thinking about it. I left work at 11 this morning because this whole thing was annoying....and it's too nice of a day to be at work anyway. :D

So... lunch tomorrow? :D

[HurricaneHeather]

So... lunch tomorrow? :D

:lol: We're having dinner tomorrow!

I gotta meet my folks for lunch actually. But are you still coming to the Saucer for "dinner"?

[Cass]

:lol: We're having dinner tomorrow!

I gotta meet my folks for lunch actually. But are you still coming to the Saucer for "dinner"?

*snarf* blonde moment. Yes, Saucer for dinner :)

I've got to take some stuff to goodwill in the AM, then I'm planning to get lost on 2 wheels for a few hrs. Oh yeah, and finally update my driver's license :)

[Captain Morgan]

Anyone else go through this?

We got a new CEO earlier this month and he stated that the portion of our company I work in lost $77 million last year. :eek:

So, the new guy says that within 3-5 years, the HRM(my portion) sector will not be a part of the future of this company. :blah:

Instead of taking 3-5 years to phase us out, they SOLD us within a month of him taking his place and they plan to close on the sale before the 2nd quarter.

So, looks like I'll be using up all my vacation time before then looking for a new job.

I hate the corporate world. :(

Well, since you're in HR, you probably already know the policies, but I'd suggest taking a look at whether you get paid for any vacation remaining at the end of your job. A lot of places will pay you for your vacation time, but you'll lose your sick time. If you find out that's the case, burn up all your sick time first. ;) Hopefully they'll cut you a nice severance package, though.

[Particle Man]

Crappy