The Company I work for got bought out by a private equity firm. What am I in for and how shit is this going to be?
A much less comfy job
Decisions will be made for the short term needs of servicing the debt used to buy the company, not long term growth and profits.Layoff rounds are more likely. Not guaranteed, just more likely.Pools for promotions and raises will get stingier.Basically all the opportunity for growth is going to get sucked out of the company. You don't need to immediately panic (probably), but you should start interviewing.
>>62891598Pretty much everything will change for the worse, but be prepared for a massive amount of propaganda about how they want to invest in the people
>>62891636Sometimes.When I worked for a private equity owned company they didn't bother with this lie; management was self aware enough about the inadequate money available to reward high performers to know trying to bullshit people with that would only hurt morale and accelerate undesired attrition further.The raise that I got when I left was massive.
>>62891636My company sold a location to a PE firmThey kept everyoneFor a year, then they moved the equipment to one of their other locationsMaybe 10% of those people had jobs to transfer to, the rest were let go
>>62891598Is it a hot dog company
>>62891598Prepare to do more for work for the same amount of money. They may offer a few temporary incentives/gifts as a distraction. Start looking for a new job.
>>62891729>>62891716>>62891699>>62891697>>62891636>>62891626>>62891613FML, I just started working here 2 months ago...
>>62891747The way I would play that from limited information available:Stick it out for a year. Work really hard in that year, and try to be liked. This is important because people are going to leave the PE'd company and building a reputation at one that was just taken over is really valuable because you'll have people who know, like, and respect you scattered across the industry after the exodus which is fantastic for your future career.Then, after the year is over and you've hopefully built a positive rep with a bunch of people who will mostly be leaving to other companies as well in the coming few years, interview and when asked why you are leaving so soon, a narrative of "my former employer was acquired by a PE firm shortly after I joined, and did not fund adequate raises even for people earning a high performer rating on their annual review" is catnip for hiring managers.
>>62891747There's going to be a guy in your floor and he's going to show you the company's "transition plan" soon. Might want to look into that if you know what I mean...
>>62891598Start looking for a new gig. Happened at a SaaS company I worked at for a decade, and got booted in one of multiple rounds of layoffs. They gave me severance, and amusingly enough was talking about just coming back most of a year later, but it's going to be a shitshow.
>>62891626this was my experience. luckily i got out just as the squeeze was happening
bretty gudI worked for a company that was sold to private equityit was owned by a boomer that inherited the business, and he was a slave driver and didn't know what the fuck he was doing. So to keep the company functional, we pretended to do what he said. He didn't understand how the company operated. But he thought he knew it better than anybody.He ends up selling it to private equity when he got tired of LARPing as a boss.New management came in that was lax, and onboard with us.The company became even more profitable without people having to do dumb work. Our jobs became a lot easier, and with a lot less headaches of not only having to do your own job, but do your boss's job as well.
>>62892136Things that never happened
>>62892138lolhe really was LARPing. Some days, he didn't show up. And on some days when he'd show up, he'd go into his office, kick his feet back on his deck and light up a cigar. Then he'd leave after he finished his cigar lmao
>>62891598Leave as soon as you can. They're just going to start liquidating everything, including the employees and anything you need to do your job properly. This shit is the same as getting a terminal brain parasite. Get out.
:( I am fucked
>>62892136as someone who works for a PE firm, i don't believe it.while PE is evil the reason PE bought your company is simply that they think they can squeeze out enough efficiencies to turn a solid profit. Squeeze isn't always pleasant, layoffs, restructuring, cost cutting, lower raises so on. Decisions are made on the scale of quarters not years. >>62891626mostly accurate. if you're a top performer its not much of a problem and you might even angle to get promoted. dusting off the resume is never a bad idea.
>>62894030You don't work for a PE firm. And if you do, it's not on the investment team. You have no clue what you're talking aboutt. Former IB and PE, now in corp dev
