Dad's company being bought out - any tips to protect himself/leverage a better s
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Date: September 25th, 2018 10:16 AM Author: heady point
everance?
Dad is 64 and planned to work for 21 more months until 66. He is well-rated and has not had any disciplinary issues. Been at this company 6 years. Company being bought has a lot of money as does company acquiring. He is in a department that has a high likelihood of being determined redundant.
(http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883876) |
Date: September 25th, 2018 10:19 AM Author: bright state volcanic crater
Isn't there age discrimination stuff if he is that old?
Also ljl at your dads wage cuck life.
Imagine being "rated" as a 60 something
(http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883899) |
Date: September 25th, 2018 10:24 AM Author: startled citrine lay
if they know he's that close to retirement they'll probably just let him ride it out. company buyouts don't get done overnight anyways so he may be ready to retire by the time they start axing people.
it's 57 year old middle managers with bloated salaries and a good number of years to retirement who get fucked over in these situations.
(http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883938) |
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Date: September 25th, 2018 2:11 PM Author: vibrant cream ceo
find a PE sponsor to buy the company after using your dad's position to extract union concessions and hatching a plan to raid the overfunded pension.
After you close, market the assets and dissolve the company, lay off the workers including your dad, and access the cash in the overfunded pension.
(http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36885674)
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Date: September 25th, 2018 11:49 PM Author: awkward french chef
Sometimes these scenarios lead to cushy consulting/part-time work. This is the best way to glide into retirement and avoid tapping retirement assets too quickly. Is there shit he knows that not too many other people at the company know and that will not be comprehensible or manageable for the buyer's people?
If so, now is the time to start setting up anyone around him to quit voluntarily or look like dispensable morons to the buyer and get shitcanned. Stop training underlings and tell them war stories about everyone who got fired the last time there was an acquisition. Write them glowing letters of recommendation and terrible internal reviews. Stop ccing anyone on emails involving the buyer or any members of senior management who might stay. Be the guy who knows how to fix ABC or find XYZ without looping in 12 other people.
Every company has old guys like this who coast by on "only Steve knows how to reconcile this weird specialized accounting we need for a state regulator/patch this code written in 1995/find the files that he sorted terribly." Ideally they work 4 hours per week from home but get paid for 20 because no one knows what they do and everyone is terrified to find out.
(http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36890109) |
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