Helpful tips

Why is our company about to be sold?

Why is our company about to be sold?

If you have been in the workforce from the 1990s on, you may well have heard this statement in your own workplace. And if you have not yet heard it, chances are you will. Why is this situation the reality in business today? Competition in all business sectors is stronger than ever before. Consumers are more well-informed than ever before.

What happens when your company is sold to another company?

Your organization will fit like a puzzle piece into the larger picture of the total business profile of the purchasing company. In this case, you may well not see a great deal of disruption in your business life. But this is not always the case. In many purchases, the acquiring business has staff who duplicate staff in the acquired company.

Can a vested person be sold to a new company?

When one company acquires another, the plan’s obligation to pay you the full amount of your vested benefits remains the same, whether the plan stays as part of the old company or becomes part of the new company. While an acquiring company can terminate a pension plan…

What do you need to know about direct sales companies?

What Is a Direct Sales Company? A direct sales company is simply a company that lets you work from home or some other non-retail location and sell items directly to customers. The term MLM (or multi-level marketing) also refers to direct sales companies.

What happens when the company you work for is sold?

If the company you work for is sold, your employment rights should usually be protected under the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE). This means that you, and other employees, should automatically be transferred to the new employer under the same terms and conditions as in your existing contract.

When to tell your employees you have sold your business?

Timing is Key. The best time to tell your employees that you have sold and will be moving on is the next business day after closing. The news of your sold business may hit the streets and you want them to hear the news from you, not on the internet.

What happens to employees when a company is acquired?

This is because acquisitions have a negative connotation, and employers don’t want to use that language around employees. Some employers purposely tell employees that the business is merging (as opposed to being acquired) so employees don’t get nervous about their jobs.

Is the combined organization will be a place you still want to work?

Will the combined organization be a place you still want to work? Tom Hall, a senior finance director at pharmaceutical company Schering-Plough, conducted this sort of analysis when he learned that his company would be acquired by a rival, Merck.