When your company sells you...

HurricaneHeather · 03-04-2010, 11:00 AM

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.

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.

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 · 03-04-2010, 11:05 AM

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

azoomm · 03-04-2010, 11:08 AM

Yay! Let fun hat week commence!!

z06boy · 03-04-2010, 11:08 AM

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 · 03-04-2010, 11:22 AM

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 · 03-04-2010, 11:39 AM

Quote:

Originally Posted by 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!

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.

Quote:

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 · 03-04-2010, 11:46 AM

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 · 03-04-2010, 12:12 PM

HRM? Hospitality and Restaurant Management?

Rider · 03-04-2010, 12:59 PM

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

HurricaneHeather · 03-04-2010, 01:16 PM

Quote:

Originally Posted by Papa_Complex

HRM? Hospitality and Restaurant Management?

Human Resources Management.

03-04-2010, 11:00 AM	#1
HurricaneHeather AMA Supersport Join Date: Nov 2008 Location: Sydney Moto: '98 Honda Fireblade Posts: 3,696	When your company sells you... 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. 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. 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.

03-04-2010, 11:05 AM	#2
smileyman White Trash Hero Join Date: Mar 2008 Location: NW Arkansas Moto: Buell 1125R Porco Rosso Edition Posts: 4,895	That sux Heather. I hope you can bounce back quickly, maybe before the sale goes thru... __________________ Arkriders.com To be the best you must first be willing to risk the worst!

03-04-2010, 12:12 PM	#8
Papa_Complex Nomadic Tribesman Join Date: Nov 2008 Location: Brampton, Canada Moto: '09 ER-6n Posts: 11,150	HRM? Hospitality and Restaurant Management? __________________ "Everything's better with pirates." - Lodge, "Dorkness Rising" http://www.morallyambiguous.net/

03-04-2010, 11:08 AM	#3
azoomm moderator chick Join Date: Feb 2008 Location: Hill Country TX Moto: Pasta Rockets Posts: 8,917	Yay! Let fun hat week commence!!

03-04-2010, 11:08 AM	#4
z06boy Letzroll Join Date: Feb 2008 Location: Lake Norman area, NC Moto: 07 Red R1 & 07 Blue R6 Posts: 5,265	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.

03-04-2010, 11:22 AM	#5
CrazyKell Vrooom Join Date: Nov 2008 Moto: 06 ZX6R Posts: 4,427	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!

03-04-2010, 11:46 AM	#7
wildchild cruiser Join Date: Nov 2008 Location: on the run Moto: '09 HD superglide, 16 Yamaha FZ 09 Posts: 2,749	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.

03-04-2010, 12:59 PM	#9
Rider Moto GP Star Join Date: Feb 2008 Posts: 12,156	We were sold out to GE 3years ago. Luckily everyone with the exception of admin assistants kept their jobs.