Anyone been in this position

[Moi]

In the sad position where my company was bought out last week by a rival.  All employees of the company i work for are in limbo at the moment, not knowing what's going on.  The initial shock and the sads have passed, but very frustrating waiting to know what's going on.  Who will be picked up, who won't - should you go looking for another job or not.  Will you be paid out correctly etc.  I'm sure they will handle the entitlements, etc well - seem to be pretty open and above board.  But is extremely frustrating not knowing your future.  Company winds up on 31 May.

We have a young and talented workforce, and pretty sure they will move on to probably better jobs.  I'm hoping to be picked up, although if not, life goes on and we just deal with it.

Anyone had the same experience or similar?

[the_boy_jake]

I took a job in Sydney last year at a small company where the people involved do this as a way of getting rich quick. They develop a product and then prostitute themselves out for the highest (usually American) bidder. It can work very well, as the previous incarnation was sold for a 9 figure sum, but I didn't really like it for many reasons, not least it always felt as though the workplace was temporary and there was a lack of job security.

Anyway, when the previous company was sold and then some months later retrenched the Australian workforce, I am led to believe that they got a very good deal. Something like 6 months on full pay. This is without a union or anything like that and I think it comes down to the abilities and desires of the senior management of your company more than anything.

[Moi]

Anyway, when the previous company was sold and then some months later retrenched the Australian workforce, I am led to believe that they got a very good deal. Something like 6 months on full pay. This is without a union or anything like that and I think it comes down to the abilities and desires of the senior management of your company more than anything.

Union got involved yesterday and they have gone away with the books and will get back to the companies what we should be getting.  Doubt most would get 6 months full pay - probably just what they're entitled to.
Because we have such a transient workforce - (ie, they leave uni and this is a fill in job until they can get into the careers they studied for - generally journalism or corporate communications type stuff), there's not many long service employees. 
Except for me, of course lol.  9 years and 7 days to be exact 

[WilliamPowell]

The company I worked for got new owners last year - fortunately nothing changed.

One of the lucky ones I reckon

[tiga]

Anyway, when the previous company was sold and then some months later retrenched the Australian workforce, I am led to believe that they got a very good deal. Something like 6 months on full pay. This is without a union or anything like that and I think it comes down to the abilities and desires of the senior management of your company more than anything.

Union got involved yesterday and they have gone away with the books and will get back to the companies what we should be getting.  Doubt most would get 6 months full pay - probably just what they're entitled to.
Because we have such a transient workforce - (ie, they leave uni and this is a fill in job until they can get into the careers they studied for - generally journalism or corporate communications type stuff), there's not many long service employees. 
Except for me, of course lol.  9 years and 7 days to be exact 

Well done Moi, only 358 days to full long service leave.

Our company is about to be bought by a competitor and it will happen before the end of the financial year. I'm actually looking forward to it as I know my Job is safe and I have been told that I will get a promotion and an increase in salary so I guess you could say Moi that I am on the other end of the scale compared to your fellow workmates.

[Moi]

The company I worked for got new owners last year - fortunately nothing changed.

One of the lucky ones I reckon

Must have been a scary experience all the same.  My boss certainly dropped a bucket last week - no-one had any idea of what was in the wind.

[Moi]

Anyway, when the previous company was sold and then some months later retrenched the Australian workforce, I am led to believe that they got a very good deal. Something like 6 months on full pay. This is without a union or anything like that and I think it comes down to the abilities and desires of the senior management of your company more than anything.

Union got involved yesterday and they have gone away with the books and will get back to the companies what we should be getting.  Doubt most would get 6 months full pay - probably just what they're entitled to.
Because we have such a transient workforce - (ie, they leave uni and this is a fill in job until they can get into the careers they studied for - generally journalism or corporate communications type stuff), there's not many long service employees. 
Except for me, of course lol.  9 years and 7 days to be exact 

Well done Moi, only 358 days to full long service leave.

Our company is about to be bought by a competitor and it will happen before the end of the financial year. I'm actually looking forward to it as I know my Job is safe and I have been told that I will get a promotion and an increase in salary so I guess you could say Moi that I am on the other end of the scale compared to your fellow workmates.

Way to go, Tiga - a promotion, more pay, coinciding with another major milestone in your life soon to happen 
Re the ten years, i was wondering how i would get out of making that speech lol

[tiga]

Anyway, when the previous company was sold and then some months later retrenched the Australian workforce, I am led to believe that they got a very good deal. Something like 6 months on full pay. This is without a union or anything like that and I think it comes down to the abilities and desires of the senior management of your company more than anything.

Union got involved yesterday and they have gone away with the books and will get back to the companies what we should be getting.  Doubt most would get 6 months full pay - probably just what they're entitled to.
Because we have such a transient workforce - (ie, they leave uni and this is a fill in job until they can get into the careers they studied for - generally journalism or corporate communications type stuff), there's not many long service employees. 
Except for me, of course lol.  9 years and 7 days to be exact 

Well done Moi, only 358 days to full long service leave.

Our company is about to be bought by a competitor and it will happen before the end of the financial year. I'm actually looking forward to it as I know my Job is safe and I have been told that I will get a promotion and an increase in salary so I guess you could say Moi that I am on the other end of the scale compared to your fellow workmates.

Way to go, Tiga - a promotion, more pay, coinciding with another major milestone in your life soon to happen 
Re the ten years, i was wondering how i would get out of making that speech lol

Yeah...another year almost over but I'm getting a new Drum kit  This one will be electronic to stop me from annoying the neighbours. If I get a decent Bass amp to connect to it though I could probably still get them ticked with one of my Alex Van Halen Drum solo's 

[julzqld]

At least you don't have to sleep with the boss like I do

[Moi]

At least you don't have to sleep with the boss like I do

Not compulsory, Julz lol

[WilliamPowell]

Must have been a scary experience all the same.  My boss certainly dropped a bucket last week - no-one had any idea of what was in the wind.

Not really scary - I was bought into the loop about 7 weeks before the changeover went through because I had to assist in preparing a whole stack of stuff. Hardest thing was not being able to tell anyone.

But yeah for those who didn't know - certainly left them like this 

[Fishfinger]

Good luck Moi. Hope you are kept on or, if not, fall on your feet and find better.

[Ox]

I'd reckon that u have just enough time to fall fown a flight of stairs or make that call to your sollicitor regarding your mental health as a result of the work conditions you have had to endure.

[mightytiges]

Good luck Moi. Hope you are kept on or, if not, fall on your feet and find better.

Well said FF  .

[Moi]

Good luck Moi. Hope you are kept on or, if not, fall on your feet and find better.

Thanks Fish.  If they want the best they've got me lol.

I'd reckon that u have just enough time to fall fown a flight of stairs or make that call to your sollicitor regarding your mental health as a result of the work conditions you have had to endure.

I'll keep that in mind, Oxx.  Err thanks lol

MT, started that course tonight - will be sending SOSes pretty soon i think