It was majority employee-owned before the acquisition but is now majority owned by private equity firm. The main change I’m noticing is that everyone is being pressured to work uncompensated overtime (we’re all on salary here) and requests for training/professional development have been all but eliminated. They also initially hired a bunch of new employees with no specific work in mind and expected us to find the new people work to do then got rid of a lot of people about 1 year afterwards.
Has anyone else rode out a private equity buyout? It’s not terrible, but it is extra stress on top of an already stressful job. Is it a good idea to get out now? I’ve heard they typically sell after around 5 years of “optimization”. What happens then?
You forgot that besides the patents sell-off, they’ll sell just anything the company owns to another company owned by them, just to lease everything back so the company can accumulate dept. In the same trend work gets sent to sub-contractors owned by them, and consultants get hired to make sure the value of the company rises because they invest in getting better at whatever.
Also, If most off these things don’t happen at your company, then all value is allready extracted and only the depts will pile up until bankruptcy.
I’m assuming the last word was meant to be debt. How is this legal when it’s blatantly obvious that they’re essentially stealing money from their other debtors when they file bankruptcy? This is just theft with a few more steps.
I meant debt indeed. And as long as the company survives, nobody is going to investigate where the cash is flowing. If it does go bankrupt, someone might. The question is, who is going to pay for the investigation to prove the wrong doing?
Because these same people write the laws and spend billions fighting regulation?