My firm has been taken over[management buy-out]so they are new owners.?

Question

They have started to make workers redundant[to be affective within the next three weeks]i,m sure i,ve read somewhere that when new owners come in there has to be a period[how long?]before they can change working practices and/or make people redundant.Can anyone out there clarify this for me.thank you.

Answer 1

I think thats only if thats written into the sale. They can make you redundant anytime if they want to

Answer 2

they can kick u out anytime they want...its der comapny. soz.

Answer 3

I don't think that there are any regulations.  But think of it this way...  if they are losing money and they don't make people redundant then the company will go under and everyone will be out of a job...

Answer 4

The first thing the new owner will do is to explore changes within the company so that it can survive and compete with changes in the external environment. Within the company, the new owners need to look at the existing corporate culture and then devise an effective corporate culture of the staff. Then it may have to downsize the staff force to cut staff costs, like redundancy or deployments of staff to other departments and reduce expenses on other office expenditures, so that the workplace can be a conducive place for all the staff to work. Or to make the staff to be competent and co-operative and be motivated to help the company to  grow and also to meet its goals and missions.

Answer 5

Just to be clear, they can walk you out the door the same day.