Author Topic: Soon to be asked to work for a different company or laid off and need advice  (Read 782 times)

Goldy

  • Bristles
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So the company I work for is selling one of its products and my manager told me that normally the people go with the sale.  Iím not thrilled with this idea because the company I work for offers some great benefits and is one of the most respected companies in its field.  Apparently in the past when this has happened they either transfer you to the other company or you are retrenched.  Transfer isnít the right word, more like they ask you to quit and the other company hires you. 

This is early in the process and I donít have anything formal yet but I wanted to get advice here first so I have some idea of what I should say when the time comes.  Iím also worried that the upcoming uncertainty will limit my potential career opportunities in my current company.  Why would they want to promote me or give me a raise if they are just going to sell me to another company?

The other part of this is that I have company stock that gets matched if I either stay with the company or I get laid off.  Itís not a huge sum but itís around 20k that iíd rather not leave on the table.  I donít know what the severance package is but others have gotten about 2 weeks per year and I have 11 years and about 38 vacation days.

What do you folks recommend I do moving forward?  Just compare offers when it happens?  Taking the severance would be interesting unless there is some sort of non compete clause that would bar me from working for the other company but I canít imagine there would be.

My wife also works for the same company but in a different department so she isnít getting sold yet.


desk_jockey

  • Bristles
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  • Posts: 298
If they want you to go to the new company, then it should be easy to negotiate retaining the shares or a cash out equivalent.  Beside that point I would compare offers of the new company vs what you have now and what you can get in the market.  Also check on what seniority benefits that you would have from time counted from the current company.  It seems resigning and being rehired would negate seniority but that too can be negotiated.   Next check if are there any other jobs in your current company for which you can apply internally.  Finally do what you can between now and the sale to put yourself in a stronger negotiating position.