I may have decided my fate

[Big House]

My company was bought out three months ago. Every email that has been sent out, from the company that bought us out, has only mentioned the management that has been crucial to the business growth. Nothing about the people that are on the ground making the money for the newly purchased company. If it weren't for the on the ground techs, none of this would be viable. What am I missing out on here?

 

[davek]

Get your resume in order and start looking just in case. It's a lot easier to get another job when you have a job.

 

[Big House]

Get your resume in order and start looking just in case. It's a lot easier to get another job when you have a job.

I'm 59 and too freaking old to be kissing ass. I'll ride this out and claim elder abuse if it gets to that point.

 

[dennishoddy]

I'm 59 and too freaking old to be kissing ass. I'll ride this out and claim elder abuse if it gets to that point.

Three and a half years, SS kicks in.

 

[Big House]

Three and a half years, SS kicks in.

True! I'll also be lucky to be 100% affective in three years. If I'm alive.

 

[Cat City Slim]

My experience with company buyouts is that individual contributors are fine, management is toast. I went through this once myself, left two other jobs because I saw it coming. If you are an individual contributor you are probably ok, unless your company gets broken up and sold off for assets.

 

[Big House]

My experience with company buyouts is that individual contributors are fine, management is toast. I went through this once myself, left two other jobs because I saw it coming. If you are an individual contributor you are probably ok, unless your company gets broken up and sold off for assets.

I'm not seeing this yet. We were told if we stayed with the current setup, we were guaranteed 7K in three years. I have my doubts.

 

[dennishoddy]

My experience with company buyouts is that individual contributors are fine, management is toast. I went through this once myself, left two other jobs because I saw it coming. If you are an individual contributor you are probably ok, unless your company gets broken up and sold off for assets.

Wife's company got bought out a couple years before she wanted to retire. It went south for her as she was a bean counter without a college education. It was the first and only job she ever had with 40+ years of developing her skills. Schlumberger brought in college kid after college kid to replace her that left after a few months because they couldn't handle the work load, so they finally gave up and kept her on.
She decided to retire, but nope.
When they decided to move the most productive plant in the company's history to Houston, she was offered two years salary to stay on 10 months during the move to handle the financials of that move. Money that big can't be ignored so she stayed on.
When they finalized the move to Houston, the company never finished a single three cone rock bit in two years of trying to get back into the market. Smith Tool drilling bits were toast.
350 employees in Ponca lost their job. 80% of the workforce had over 20 years on the job.

 

[BlindOne]

My company was bought out three months ago. Every email that has been sent out, from the company that bought us out, has only mentioned the management that has been crucial to the business growth. Nothing about the people that are on the ground making the money for the newly purchased company. If it weren't for the on the ground techs, none of this would be viable. What am I missing out on here?

My company was bought out three months ago. Every email that has been sent out, from the company that bought us out, has only mentioned the management that has been crucial to the business growth. Nothing about the people that are on the ground making the money for the newly purchased company. If it weren't for the on the ground techs, none of this would be viable. What am I missing out on here?

Our corporation got a new CEO 2012 then a program for early retirement was announced VERP. I was VERPed “Voluntary Early Retiremen Plan” in 2013. They said if I took it the verp I could never come back. We were actually forced to take it as I had been with the Corporation 30 years and my score number was 100 and if your score was higher (100 being the highest) they wouldn’t guarantee that you’d get to keep your job if you didn’t take the verp. So I took the VERP in 2013, it was a generous package and they paid my salary and benefits through part of 2014 then same year they asked me if I’d come back and help finish developing another product. So I did for 9 moths at double salary as a contractor. Then late 2015 I took social security and Medicare . Last year the global Corporation stock went below 0 and filed for bankruptcy. So I’m glad I took the VERP and God watched over and took care of me.

Hang on for a few months and see if they offer some kind of package pray about it . I wasn’t sure what to do either ends up I just rolled with the flow and it worked out in my favor. God took care of me. Our corporation changed for the bad in the end and I’m glad I’m not there any longer. I’m just enjoying retirement now and have been since 2015.

 

[Glock 'em down]

True! I'll also be lucky to be 100% affective in three years. If I'm alive.

I'm the same way. I'm 55 and have 6 years to go before I can retire. Some days, I don't think I'll live that long.

Good luck with whatever happens ol' buddy.