mstrlucky74
Senior Member
- Location
- NJ
Anyone ever work for an electrical contractor, or know someone who worked for one, that was bought by a public company? How did it change? Thanks.
Buyout
- Thread starter mstrlucky74
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mstrlucky74
Senior Member
- Location
- NJ
No. Thanks though.
Fulthrotl
~Autocorrect is My Worst Enema.~
- Occupation
- E
yeah. i was a foreman, and the shop i was working for was bought by
jamaca water and power. JWP.
i got laid off. so did a lot of other folks. the company didn't do well
at all. lot of restructuring. never did thrive all that well.
http://www.fundinguniverse.com/company-histories/jwp-inc-history/
gadfly56
Senior Member
- Location
- New Jersey
- Occupation
- Professional Engineer, Fire & Life Safety
I haven't been through it, but I know a couple of people who have. Expect layoffs. Expect it won't make any sense as to who gets laid off. If you survive the cuts, expect to get worked to death, have no idea what you're really expected to do, and give up any thoughts of raises for the next year or three...or ever.
Unless the buyer just has cash to burn, there's going to be a bank involved, which means loans, and loan repayments. That's extra stress on a business it didn't have before, and that money has to come from somewhere. Buyers often think they have a magic formula for jacking up sales and profits. They rarely do; if there was a magic formula, the sellers would be using it already.
Unless the buyer just has cash to burn, there's going to be a bank involved, which means loans, and loan repayments. That's extra stress on a business it didn't have before, and that money has to come from somewhere. Buyers often think they have a magic formula for jacking up sales and profits. They rarely do; if there was a magic formula, the sellers would be using it already.
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