[z335is]

Hey everyone,

I was hoping you could lend some insight here. The company I have been with for the last six years (IT) was just sold to one of our competitors. The deal can't officially be completed until late this year or early next year though, so we are kind of in limbo. Now the new company is saying all of the right things so far about employee retention, salaries, etc, but I'm sure some form of mischief will occur (it always does). That being said, there is an opportunity at another company that is very similar to what I do now (and slightly closer to home with likely the same pay or higher).

I'm really struggling with whether I should apply for the other job or if I should hold tight and see how things flesh out with the transition, any thoughts?

Thanks in advance

[ddk632]

I've lived through a company sale and came out better for it. I know others who have not. Really depends on the reason for the buyout and the plans, etc., and if the smaller company will operate as an independent unit within (usually good) or if it was bought for some tech or userbase or other that will get integrated into the parent company's product line (usually spells end of many original people's tenure). Just my $0.02 from experience.

Don't make a move until it is certain that some bad stuff will go down; otherwise you could jump prematurely.

That being said, it never hurts to have your resume up-to-date and take an interview here and there to keep your interview skillz in tip-top shape.

To add, if you are going to make a move anyway, and/or the new position is closer/higher pay/more donuts/etc then I would do what I'd do anyway and if you want to move, move; but do it from a place of your career, vs. fear of what will happen at current job.

[Taskmaster]

Originally Posted by z335is

Hey everyone,

I was hoping you could lend some insight here. The company I have been with for the last six years (IT) was just sold to one of our competitors. The deal can't officially be completed until late this year or early next year though, so we are kind of in limbo. Now the new company is saying all of the right things so far about employee retention, salaries, etc, but I'm sure some form of mischief will occur (it always does). That being said, there is an opportunity at another company that is very similar to what I do now (and slightly closer to home with likely the same pay or higher).

I'm really struggling with whether I should apply for the other job or if I should hold tight and see how things flesh out with the transition, any thoughts?

Thanks in advance

Apply.

[m3ray]

From experience, apply or start looking elsewhere. There will be redundancy and efficiency studies conducted to determine which groups/personnel are not needed. No one is immune.

[John 070]

Originally Posted by m3ray

From experience, apply or start looking elsewhere. There will be redundancy and efficiency studies conducted to determine which groups/personnel are not needed. No one is immune.

Exactly, unless there is some reason why you would lose some benefit by leaving.

[335m]

I would definitely prep your resume and look for other positions, but that does not mean it is always a negative thing. As a Software Developer this happens often in our field, last time this happened to me the company who took over had much better benefits so it worked out.

Don't jump ship too quickly or before things start settling down, unless the new offer is just too good to pass up.

[MiddleAgedAl]

Not sure how big your department is, but keep in mind that other colleagues in a similar role to you, are probably having the same ideas. They may also be applying for that same new job, or at least thinking about it.

What I've seen before is that even with layoffs due to redundancies, if many folks jump ship beforehand, there will be fewer layoffs to make, and the value of those who stay behind can go up, especially if they have critical knowledge about the systems of the company being consumed. Sometimes you can leverage that to your advantage if you stay.

I'd apply and find out all you can about the new job. If it's clearly better, then take it, which you should do anyways, even if the company wasnt about to be consumed.

If it's not clearly better, don't be too quick to accept it in a panic.

When switching jobs, always try to make sure you doing it because you are running towards something good, instead of just running away from something bad, if you know what I mean.

[BEM-S4]

I buy and sell companies for a living. PM me if you want some more personalized advice but long story short, if you didn't know about the deal before it was announced, chances are you're not a "key employee" which just means getting a retention package. That stuff should be hammered out already to keep the folks they want to keep from jumping ship. Start looking now that's a 3-6 month process anyway. Just be smart about it and keep it quiet, see how things play out where you are now.

[Ben2k9]

Originally Posted by z335is

That being said, there is an opportunity at another company that is very similar to what I do now (and slightly closer to home with likely the same pay or higher).

I'm really struggling with whether I should apply for the other job or if I should hold tight and see how things flesh out with the transition, any thoughts?

I'd apply for the other job and try to negotiate a superior compensation. you have nothing to lose.

Maybe it will be win-win.

[BEM-S4]

Originally Posted by m3ray

From experience, apply or start looking elsewhere. There will be redundancy and efficiency studies conducted to determine which groups/personnel are not needed. No one is immune.

This is already well underway they do all that stuff first thing.

[m3ray]

Originally Posted by BEM-S4

This is already well underway they do all that stuff first thing.

Agreed. Part of my work involves the due diligence audits (quantifying and verifying assets and liabilities) that precede the actual sale of a company. Prior to the sale being negotiated the purchasing company has a rough idea of who will be retained or let go. They start with entire Depts, then Sr Managment, middle Mgmt, all the way down to the rank and file employees.

Good advice for the OP to not act in haste, but he should be prepared for the worst, and should be actively looking.

[BEM-S4]

Yeah by right away, I mean right away from when the companies first start talking. Not from when the deal is announced. They have been identifying synergies for 3-6 months at least. Some of that is procurement, etc but a lot of it is pure head count. Look at it this way, it's a strategic (meaning a competitor) not a financial (private equity shop). They do all the same stuff you do. There will be product line rationalizations. They literally now have 2 people doing almost everything by combining the companies. Need 2 heads of marketing? Nope. 2 CEOs? Nope. 2 teams developing competing products? Nope nope nope. Sorry if that sounds harsh but trying to give you some insight as to how we think about this stuff.

[z335is]

Thanks for the advice thus far everyone, it's great to hear the different perspectives. I'm leaning towards just applying at the new company and seeing where that takes me. Worst case, I'm back in the same position I am now.

[Mr Friese]

Originally Posted by z335is

Hey everyone,

I was hoping you could lend some insight here. The company I have been with for the last six years (IT) was just sold to one of our competitors. The deal can't officially be completed until late this year or early next year though, so we are kind of in limbo. Now the new company is saying all of the right things so far about employee retention, salaries, etc, but I'm sure some form of mischief will occur (it always does). That being said, there is an opportunity at another company that is very similar to what I do now (and slightly closer to home with likely the same pay or higher).

I'm really struggling with whether I should apply for the other job or if I should hold tight and see how things flesh out with the transition, any thoughts?

Thanks in advance

I recently went through a similar experience at my company and decided to head for the exit. If you have any questions, feel free to PM me.

[jasonX]

Did you make a similar thread at techexams?

[z335is]

Originally Posted by jasonX

Did you make a similar thread at techexams?

I did indeed!

[twin fed]

"UMMMM, Yeah, if you could go ahead and get those TPS reports on my desk that would be great, thanks"

All kidding aside, seems like you got some good info and I hope it works out for you whichever way you decide to go.

[PSUSMU]

Do you happen to work for Siemens x Cerner?

[davis449]

I left a what really was a good job in late May of 2012 at a decent-sized privately held (by individuals) company because I wasn't really happy with my management at the time. I took into consideration the fact that the company was being sold to an investment group (still private, though) and decided it was time to fly. I went to another company down the in oil fields south of SA at the behest of a co-worker from that company and they were sold 5 mos. after I started working there. Given the sale of this company wasn't the only thing that pushed me out the door, I also had a shitty boss (the company's soon-to-be former owner), and a 240 mile round trip a day commute (what can I say, money is SO tempting sometimes). I saw the writing on the wall (I was definitely going to be let go once the new parent company took over) and so did my direct supervisor (who was from the company I left, he had left to work for these asshats, too, though he probably would've been able to keep his job) and decided to take my chances back closer to home. After two years of struggling to find a GOOD home, I think I finally have one at where I am now. I wouldn't change the leap frogging I've done over the last two years through two companies to find the job I have now. In the end, it was worth it because at that first good job I had the company has since gone WAY down hill and turnover through the roof. The stories I hear about that place now make me happy I did what I did.

Now that I've told you that story, let me tell how I played getting out of the last company I left that was here at home. I applied like crazy and only took interviews to jobs that looked like they were going to be good. It took 6 mos. because, though I hated my job, it was good enough to stay until the RIGHT thing came along. That said, this is what I would do in your position. I would put the resumes out and start taking only the worthwhile interviews while you are watching things play out where you are now. If you find something better during that process, take it. If I had to do it all over again, I would've just been more careful about the job I left that pretty good one for and that was the lesson I learned the second time around.

[z335is]

Originally Posted by PSUSMU

Do you happen to work for Siemens x Cerner?

[jlstyle]

If that company has similar reputation, I would get the job closer to home+possibly higher pay.

[MidwestGolfBum]

Well, I rode out 3 acquisitions before I decided it was time to go and start my own company I may have some advice that you can decide weather or not you want to take.

Having options if you want them while you are riding out the acquisition is never a bad idea, but I wouldn't necessarily jump ship just because of it. If you would be seeking out another job that is closer to home/may pay higher if this wasn't happening, taking the other opportunity would be the way to go. I watched a lot of people who would jump ship because they were worried that they would get cut for one reason or another and hated what they ended up doing. Don't make the decision to move based only on the fact that there is a possibility that you could get cut as that will lead you to making decisions more quickly than you might want to. Assuming that you have been a good employee, haven't had any kind of issues, have put in some time there (not the last hire for your position), and can be viewed as somebody who is able to adapt to change you shouldn't have any issues. I actually was able to get better benefits and a better pay package each and every time that we were purchased; though that isn't guaranteed, obviously.