Anyone else worried about keeping their job right now?

[lecach]

I work for a startup computer company. 30 employees. It looks like we're about to be bought out by a LARGE corporation. There are no "extra" employees - we're all wearing many hats. So its not like we have any unecessary people. All along the CEO has told us that we'll all have jobs. Today I read an email that he sent to the new people (it was on our public calendar and tracking system (Salesforce) - which isnt very smart in my opinion. It had a proposed meeting agenda to discuss the sale and one item was "discuss what staff will be needed" and "the hardest thing about a merger is uncertainty, I think everyone will appreciate a fast decision so that they'll all be on board with the new company". To me that sounds like we're NOT all going to have jobs - but that at least they'll decide something soon. The sale is expected to close in about 3 weeks. Im a little worried - but I know there is not anything I can do about it. DH and I are in the process of building a new house - it hasnt been started but we signed the papers. If our loan doesnt go through (and if I lose my job it wont) we'll get out of everything - maybe lose our $2000 earnest money but thats it. But its still scary.

So - is anyone else going through this kind of thing (merger, buyout, etc.)?

 

[Rex Rules]

I'm sorry to hear you are having anxiety over your job.

DH was downsized and it took him 9 months to find a new job - he has been with the new company for over a year now. The first day back at work after the Christmas holidays, they announced that his location will be closed and the operations consolidated with another location. About 60 people will end up losing their jobs. The new location is about an hour and a half from the old location. Most of the management types were given the option to move, DH among them, thank goodness. We are tremendously relieved. Since that first week in January, DH has been pulling down 65+ hours a week - 6 days and he is salary exempt, so he gets no overtime pay for this. He is exhausted and I am worried about him. But you have to do what you have to do. He is told that it will be this way until the move - which is June. He is going to be completely drained by then...

I just realized you are in Durham. Good luck with the new company, hopefully your job won't be cut!

 

[lecach]

Thanks Rex Rules (where in the Triad are you? I am in Durham and grew up in Lexington, nc). The good news is that if we ARE bought that we'll have to move to a different office. And it happens to be about 6 miles from my house! No more 25 minute drive to work on I-40. Of course no one else I work with is happy with this. They all will end up driving much farther. I just hope we all keep our jobs - well, at least most of us. There are a few that I wouldnt miss Of course I wouldnt wish being jobless on anyone - I am just joking.

 

[agotta]

I am also getting worried about losing my job. I am looking for a new one for several reasons, but I fear that I may lose my job before I find a new one. Many changes going including a new boss. Lots of new systems that seem to be determining whether or not my position exists. They keep taking responsibilities away from me, all the while telling me what a great job I am doing and I am the best person they have ever had in this position....

Good luck to you and I hope everything works out for the best.

 

[SC Minnie]

There are rumors floating around that the division I work for is being looked at to be sold. The company I currently work for bought out our old company 4 years ago and I was one of the lucky ones that was able to keep a job. I'm not so sure I would withstand another buyout.

 

[lecach]

Im really torn. I think working for the new company would be great. Better location, MUCH better benefits (free dental), etc. And they know what they are doing so things would probably run smoother. But I dont want to lose my job either. Of course I dont like my job as it is right now - I was promised that I would only be doing some admin things for 6 months but its been 10 and its clear they have no intentions on changing things. So I think the merger could be for the best. I think they would use my skills much more effectively and not pay me this much to fill the drink machine and get the mail. There is plenty to do in the area I was hired to work in - its just that we're so shortstaffed that someone has to do the admin stuff and I got stuck with it.

 

[Rex Rules]

We are in Winston Salem. DH's job is in Statesville. The new location is in Greensboro.
A better commute for you would be great.

Minnie - didn't realize you were dealing with this too...
I honestly don't think there is such a thing as job security any more.

 

[lecach]

Greensboro from Winston isnt too bad - maybe his commute will be better than it is now.

You're right - I dont know that anyone is secure anymore. Kindof scary isnt it?

 

[joksten2000]

I can really feel for everyone in the work force. Thank God, I've taken retirement and the rat race is a dim memory. Good luck All, may the fates smile upon you.

 

[The Mystery Machine]

Yep....In DH's former division they just fired them all. Oh what a fun time it has been.
He is in sales...the customers are just sooo happy....NOT!

He has been job searching like a fiend.

 

[SC Minnie]

Minnie - didn't realize you were dealing with this too...
I honestly don't think there is such a thing as job security any more.

The rumor is that an investment company is looking at buying us. What makes me feel a little better is the CEO from the company that was bought 4 years ago is on the board of the investment group. Of the facilities that would be purchased all but 3 were part of 'his' company. This group has a reputation of buying companies or division and letting them run. If that is the case we should be OK but you never know.

 

[Rex Rules]

Actually the commute will be fewer miles, but ALOT more traffic. There is almost nothing between where we are - the Clemmons side of Winston and Statesville on I-40. We are going to move over to Greensboro this summer. We have some friends over there. It will be better for us. I can't say our experience here in Winston has been great. It is a very "closed" place - we haven't made ANY friends here. Sad.

 

[Rex Rules]

Minnie, sounds promising, but I don't think you can ever really know. Murphy's Law and all...

 

[SC Minnie]

I'm not too worried about things. I will have been here 11 years next month and our policy severance for my level is 4 weeks for every year. I should be able to find something in that time frame even if its working retail.

 

[powellrj]

we were bought by an investment company several years ago, and we just learned last week that they have put us up for sale again. I am just staying put for now, but its really stressful not knowing what is going to happen. We were planning to buy a larger house and DHs company car will no longer be in-compliance so we were planning to replace that, so both of these things are now on hold.

 

[Disneycrazymom]

Us too. My teaching job may be eleminited next year, unless we can find some kind of grant money or something. Anyway I won't know for sure until spring when Father finishes the budget. DH company (in Ashville) was bought out the 1st of the year. He is staying on with the new company but we don't know exactly what the new pay structure will be. He thinks it will come out to be less take home but the benefits seem better. I am sorry for everyone worried about this right now.

 

[tinaluis]

I haven't had a paycheck since 12/31/05. In the past, I've gone as long as 4 months without pay, but my boss always makes up the paychecks when we get $$ in. This time, the prospect of any $$$ coming into our firm seems bleak. Thank god we have $$$ in savings!

 

[Planogirl]

We've been through this too many times; me twice and DH once. I think that everyone should be ready for this to happen because job security is very rare nowadays.

 

[JuneChickie]

My hubby works for one of those airlines thats in bankrupsy. He could
loose his job anyday. So we just worry allday ,, everyday. Now the
pilots are talking strike and well,, there is talk that this airline will cease
to exist.

 

[OhMari]

My husband went through it once.

I could be going through it soon. Our Archdiocese wants our county which is the largest county in WI to strategically come together. There are 14 parishes in our county and they want to go from 7 priest to 3. So 4 secretaries will be loosing their job. If I get laid off I'll collect unemployment from the Archdiocese. I probably can find a job within the system, but I'll have to commute at least an hour in any direction.
Right now I am double paying and getting bills paid off because I know this can happen within 2 years.