The company I work for is being sold...

[PhoenixRising]

I just found out. I had no idea, and I'm not supposed to know. I found out from a coworker... She says that they are saying our jobs aren't in jeapordy, but I have trouble believing that. I'm fairly uninformed of what is happening (obviously) but I'd like to know...
Who has dealt with this before? What are your experiences? Should I start looking elsewhere just in case?

[PaulaO]

I work for a hospital and it wasn't sold, but "merged" 5 years ago with a bigger hospital. It wasn't a merge, it was a takeover, and they were hostile. I waited it out and fortunately had an excellent counterpart at the bigger hospital. We integrated and now present a uniform front.

It's scary. I don't know what you do--you know your industry better than strangers. I say sit tight, look around, and feel comfortable knowing that if you lose your job, you will get employment and hopefully a severance package.

[LeoApp]

Lots and lots of experience. One company sold their book of business to another and just went out of business. One company merged with another company and changed names and management. They always will "Look for synergies" which means getting rid of redundancy and laying people off. Or, in other cases, the company that took over has Corporate HQ in some other city and they tell people they can move and keep their jobs or take a package.
A merger or take over is almost never a good thing for the employees but I have survived some and gotten laid off with others. You just have to go with the flow and see what the fallout is. At worst you get a severance package and move on with your life. It sucks but there is not much you can do about it.

[Suzon]

Yes, I think it depends on the company. When we purchased our company, we kept all the existing employees. After that, we laid off office worker over the winter and didn't pick him up again as he did as little work as possible and was surly about it. And the office manager (who didn't do change well, but tried very hard) decided to retire after about a year. I stepped into that role.

My dad works for a small telephone company that has been sold three times since he started there. He's CFO and each time, they always say he'll be replaced at time of sale. Each time it ends up being he knows so much and is the only one who can answer everyone's questions and orchestrates the transition, so he ends up keeping his position. I think the moral there is: be useful.

But yes, there's always revamping that goes on. New people brought in, new systems, downsizing, streamlining. It's never a sure thing, even if they say no one is in danger.

[exploding pony]

It is impossible to predict what is going to happen.

Work hard, avoid being dramatic and just wait until it plays out. Could go a million different directions and change a million times.

[boots-aregard]

Yes, I think it depends on the company. When we purchased our company, we kept all the existing employees.

Yes. Companies can go either way. DH is in the process of trying to build our company into "a machine" that doesn't need him so he can sell it with the seasoned employees in place. Ours is the kind of business that does not have inventory or products, so the value of the company is in the knowhow, the experience, the abilities of the people.

Companies that are about inventory, products, property, may value the existing employees less because economies of scale don't require the redundancies between their existing company and the new company.

So, it can depend on the type of business.

[WheresMyWhite]

:shock:
I just found out. I had no idea, and I'm not supposed to know. I found out from a coworker... She says that they are saying our jobs aren't in jeapordy, but I have trouble believing that. I'm fairly uninformed of what is happening (obviously) but I'd like to know...
Who has dealt with this before? What are your experiences? Should I start looking elsewhere just in case?

Big company or small?

If it is a large, publicly held corporation, don't know how much weight I would put into what your co-worker said. Mergers/acquisitions with publicly held corporations are usually scrutinized by the SEC. Merger/acquisition information is, I believe, illegal to be "leaked" as it can affect the stock price.

In any case, if you are uncomfortable with your future, start looking. If you know anything about the new company and think it is a company you might like to work at, take a chance and stick it it.

Even if your co-worker said you job is not in jeopardy, she doesn't know that and she doesn't know what the acquiring company will do once the sale is complete. They may be telling everyone their jobs are safe because they don't want to acquire a company with no employees

I have been a part of and see a number of corporate acquisitions. IMO, at some point changes will be made. But what those are may not even be known at the time of acquisition. I guess it depends on how much you want to stake your job on a rumor

[Woost2]

I worked for a corp that was sold twice in one year. I had a mega stack of business cards with three different logos in my desk. It was a complete PITA and the change in "culture" was the first shock. With the final one I was offered a job in Texas at the corporate office. I declined. I'm was not working in a high rise with a bunch of upwardly mobile young men in suits. In Texas. Not happening.

[angela9823]

I've been through this twice with the same company and both times it has been a great thing! We got more benefits, the culture became better, the overall atmosphere became better. We did become a publicly traded corp the last time so we are now under the gun to always produce more but they are giving us the tools to do so. Previously, ever dollar spent came directly out of the owner's pocket and he made it known it wasn't going to happen. Now, as long as the money spent is going to raise more money, we have the ability to move forward.

Now having said that, I completely understand the feeling you have in worrying over it. There will be new personnel, a new culture etc. There will be change. And I love the way someone said to make sure you are not dramatic about it. Go with the flow! Be the person to embrace the change and it will get noticed.

[PhoenixRising]

The whole situation is scary to me. This is the best job I've ever had, and I get nervous thinking of having to go elsewhere. I am trying not to worry about it too much, and see what happens. It could be a good thing, but it could also be really bad. I just keep reminding myself that if it ends up bad, I have comparable pay and experience now to where it shouldn't be an issue to find a position elsewhere.

[PhoenixRising]

I don't really know what progress is being made on the sale/merger whatever it is. But tensions are high, almost palpable in the office. Everyone is on edge and very grumpy. I understand it, but boy is it making going to work stressful. For whatever reason, I tend to be who people complain to (my boss and I have talked about this before, its not a new issue). I'm getting a lot of offhanded and somewhat cold comments when I inquire about supplies people may need. Typically comments almost under their breath along the lines of "well I don't know if we'll still be using it much longer". In general people are getting bent out of shape about silly stuff (IE I was told some coworkers were upset that I had been crocheting at the front desk when I had nothing else to do, something my boss WAS completely ok with previously, therefore I no longer can). I get it, this is a stressful time for everyone as it seems the word is getting out. But man, this isn't fun at all. Please, dear coworkers, don't take it all out on me.
*rant over*
Sorry, needed a place to whine. LOL

[WheresMyWhite]

I sympathize. Being on the "acquired" end of an acquisition *is* scary.

But, IMO, worrying and fretting won't change if the acquisition happens or not and won't change what happens after, or not. I know easy to say but one can either just put one's head down and continue to do the best job one can and wait for the dust to settle (if the acquisition does happen). Maybe just counsel along these lines... worrying won't change the outcome and just give you ulcers in the mean time.

If the stress is too much, time to find another job. Or take a deep breath...

Good time to remember the Serenity Prayer