It was a long time ago. Long story short, the company was carved up into pieces and the piece I was stuck in got bought by a private interest, and about 6 months later about half the employees were let go (with two weeks severance).Current company is at the early stages of possibly being delisted from Nasdaq. 30 days below $1. What should I expect?
P.S. I started hiding office supplies last month and bought a cashmere sweater for the cleaning lady.
You sleep well with that thought.I've been looking. I think we still have a couple years.
Yeah, start looking now.You sleep well with that thought.
Worked for a company that got delisted and almost immediately filed bankruptcy. We came out of it and went on to be a very successful company that was purchased 3 years later for over a $1b. After all the dust settled I was talking to the old controller who said we were 7 days away from selling everything but an investor came in, bought all the debt & resurrected the company.
I'd update the resume, get recommendation letters in line and start looking with intent but that's me.
As I understand it, the majority owners are a private equity firm. Their track record is to buy companies to create 10 year funds. At the end they sell and move on. From what I was told, they rarely keep a business like ours outside of the 10 year term. (we are 8 years into the 10 year term) Rumors are the CEO has been looking for potential buyers.TheWalkmen said:Are you aware of potential buyers?
GodspeedAxe falling today. Rumor is, multiple people getting pink slips. Let's see if I make it to lunch.
Maybe skip the steak today.Axe falling today. Rumor is, multiple people getting pink slips. Let's see if I make it to lunch.
IMO always root for the severance.Not sure which I'm rooting for. Severance and move on, or hang out awhile longer and watch this circus unravel.
severance without questionNot sure which I'm rooting for. Severance and move on, or hang out awhile longer and watch this circus unravel.
I've been looking. I think we still have a couple years.
You sleep well with that thought.
Worked for a company that got delisted and almost immediately filed bankruptcy. We came out of it and went on to be a very successful company that was purchased 3 years later for over a $1b. After all the dust settled I was talking to the old controller who said we were 7 days away from selling everything but an investor came in, bought all the debt & resurrected the company.
I'd update the resume, get recommendation letters in line and start looking with intent but that's me.
This beer 30 guy is freaking prophetic!Axe falling today. Rumor is, multiple people getting pink slips. Let's see if I make it to lunch.
I had the same experience many years ago. To make it even more awesome was the fact that I was the guy who got HR coming over every few weeks to disable accounts as they were laying off employees.It was a long time ago. Long story short, the company was carved up into pieces and the piece I was stuck in got bought by a private interest, and about 6 months later about half the employees were let go (with two weeks severance).
Fun times! I remember a lot of water cooler talk about anonymous users airing dirty laundry about the company on Yahoo's financial message boards.
This x1000.severance without question
Are you saying that you are the only guy left?Almost lunchtime. My boss is gone. My bosses boss is gone. They rolled the 3 remaining people in our dept into another dept.
I've been looking for another job and had a job offer, but it was a pay cut. Financially, I'm not worried about losing this job, or finding another. As I mentioned in a different thread, our monthly expenses are cheap and I don't have health insurance through this job. Basically, my pay goes towards retirement.
I do feel bad for the people that were living paycheck to paycheck.
Tough callI didn't get a severance. I'm still employed. Should I still leave my soiled pants in the bathroom.
I await your direction.
Probably. They are Garanimals and my Mom wrote my name on the inside.Tough call
Can they trace the pants to you?
Leave em anywayProbably. They are Garanimals and my Mom wrote my name on the inside.
Hhgregg?Looks like we aren't going to make it to the delisting deadline. Someone leaked to the press that bankruptcy is coming by months end. Big wigs scrambling all afternoon with damage control.
Should be a fun week.
Have you pitched a rebranding effort?Fail at selling merchandise.
Haven't we been through enough??Have you pitched a rebranding effort?
I have some drawings if they are looking for someone.
Left shoes, irregular socks, manpris, dong pictures. You know, stuff nobody wants.