My company is merging with another company. But what about the people?

[Di84]

Last week I along with 1500 other people at my company were told that we were being sold to another company and that the deal would likely go through in January 2015 if all goes well. Of course, this felt like a bomb had landed on all of us and now everyone is worrying for their jobs. We had a conference the day after we got the email from our president to get more information about the deal, but the president along with the HR director could not answer any of our concerns and basically told us "business as usual" until the deal is done. Quite frankly, it cannot be business as usual for anyone when we feel as though as soon as we merge with the other company and the entire transaction is done, the majority of us will be cut as they already have an office here and would likely be keeping their employees first.

 

The problem with me is that I work in sales for this company and we are front line people. Because of this entire deal now being pubic news, no consultant will want to send us new business. It is already happening and I basically don't have any work to do for the next few months until we know what's going on. To say the least- this is giving me constant anxiety as I have no answers and have no idea what will happen to my job. Although my manager is trying to put us at ease, she doesn't have the answers either so it doesn't help much. I feel like my company is just leaving us hanging right now.

 

My question to you all is - have you ever been in this type of situation where your company was merging with another company and you knew there would be job cuts? If so, how long did the entire transaction take before they began the elimination process (let's say from the day the deal is done -- 1 month? 6 months? I wonder) ? Were you lucky enough to keep your job with the new company?

 

I am preparing myself for the worst now but it would be great if at least I would know that I will be out of a job in 3 months or wtv. I think it's better to know you are losing your job then to just sit and wait to see if this new company will keep you. I also don't want to look for a new job just yet as I love the company I work for and am really hoping they will keep me. If I did get a new job in the meantime, I would worry that I could be keeping this job in the future and I'd be taking a risk by leaving so soon.

[happpybear]

Yes this happened to me last year--I considered it a hostile takeover of sorts (just the politics involved) though it was touted as a "merger"...anyway, yes there were "synergies" (silly buzzword that was thrown around that translated as "lay-offs"). I was afraid for my whole department but we were safe. There was a lot of redundant positions regardless in other departments and the layoffs started fairly quickly at about 2 months in, and continued for another few months (a lot of layoffs just before Christmas time--pretty sad). Then, to make it even crappier, our benefits (health insurance) were changed to "reflect current practices" which meant a huge reduction in coverage and perks but we still have to pay the same amount in premiums. Before all this, my company had amazing health-care coverage--it was the reason many people actually stayed with the company. They didn't change the very generous vacay policy--thank God for that--though I don't know if new hires get the same vacation time now.

 

Start looking for a job now--but don't stress yet, you very well may be safe. But it's good to start looking around anyway, even if you stay, they may end up changing things so much that it is no longer a good place to work, like cutting your health-care (like what happened to me) or reducing your department so that you and whomever is left will have to take on all the extra work.

[shes2smart]

Many years ago the radio station I worked at was purchased by a large company that owns many radio stations. The day the sale was final and everything was transferred over to the new company, they came in and fired about 1/3 of the people who were employed at my station, citing 'redundancy.'

 

I kept my job and stayed there for another 10 or so years after. However, I always had the sense that I was a "red headed stepchild." I wasn't someone they hired, I probably wouldn't have been someone they would have hired, but my salary was low in comparison to what others in a comparable position were being paid and I was a low-maintenance employee with a good work ethic. So, they kept me around.

 

I ended up leaving after they nearly succeeded in working me to death. When I had my mental meltdown, I was doing what used to be 4 or 5 full time jobs for the pay of about 1.5. We're talking 2 week mandatory medical leave, antidepressants and mandatory counseling.

 

So, really, "getting" to keep your job isn't necessarily winning a great prize, either.

 

If I had it to do over, I would've started looking for another opportunity much sooner.

[Di84]

Thank you both for your comments. You've both addressed things that I now worry about. For one, if they do keep me I will always feel like at any given time they can just get rid of me. Obviously, their employees are a priority and we are secondary so this worries me. I also don't like the feeling that I now need to 'prove' to the new company that I am worth more than everyone is in my team (really it's starting to feel like we need to compete to show our worth). I also worry about the day they do sign the deal and we are not part of the new company, what will happen to my salary, my benefits and my vacation time. Will they just change everything according to what they offer? The entire situation just really sucks as I really love my job and the company but I guess I should just start looking elsewhere.