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Company bought out

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1 Company bought out on Sat Mar 05, 2016 10:57 am

jjkent33


Arresto Menor
Good day,

Our company has been bought by another company. All has been re-branded. President of the New Owner has already visited us and been introduced. The New company is US based.

As for us the employees,

Are we entitled for a retrenchment?
No contract from the new company yet, so we are unsure what will really happen to us. And is this legal na we are working for a company that might not be existing anymore since nabili na ung old and na rebrand na nga po and everything about the old company has been erased.
Company has been acquired like around OCT or NOV last year pa po..

Any insights on what we can do or what the company should have done from the time it has been acquired.

Thanks and more power....

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2 Re: Company bought out on Sat Mar 05, 2016 11:38 am

centro


Reclusion Perpetua
When a company buys out another company, depending on its strategy and competitiveness of the acquired company's standing, it may retain the organization or modify it.
Most of the time, the new owners take this chance to restructure the organization to fit to their plans, to reduce cost or to be more competitive. They usually field their own senior managers. More disciplined human resource practitioners assess the manning, job description, compensation, right fit and competency.
Should they decide to retain a number of employees, the employees are protected by the non-diminution of benefits. Should they decide to retrench due to new organizational structure, retrenched employees are protected by severance pay. Several factors are considered like contracts, tenure, job description, performance etc. May be selective or in phases.
Check your rights. Protect your performance. Keep employment records. Ask around.
Companies offered for buy outs usually keep the deal confidential so as not to alarm the organization and jeopardize the operations. They usually project the company is performing well for a better pricing leverage.
Most everyone naturally goes through anxiety during the transition. Brace yourself emotionally.

Insights based on actual company buy out of a multinational company.

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