Company was just sold - hold tight or jump ship?

Hey everyone,

I was hoping you could lend some insight here. The company I have been with for the last six years (IT) was just sold to one of our competitors. The deal can't officially be completed until late this year or early next year though, so we are kind of in limbo. Now the new company is saying all of the right things so far about employee retention, salaries, etc, but I'm sure some form of mischief will occur (it always does). That being said, there is an opportunity at another company that is very similar to what I do now (and slightly closer to home with likely the same pay or higher).

I'm really struggling with whether I should apply for the other job or if I should hold tight and see how things flesh out with the transition, any thoughts?

Thanks in advance

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Comments

TeKniques

Always best to plan for the worst. If it were me I would start looking around for opportunities, you never know you may actually find something that fits a lot better with your goals. And of course, stability is always nice.

WiseWun

IMO, 6 years is far too long. This is your opportunity to jump ship. Unless this is your dream job which you want to hold on to and ride out the storm sort of speak.

petedude

WiseWun wrote: »

IMO, 6 years is far too long. This is your opportunity to jump ship. Unless this is your dream job which you want to hold on to and ride out the storm sort of speak.

My, how times have changed. My dad worked for the same company for 23 years, and was the last person out (or nearly) the day they closed his plant.

Six years is only too long if you've been stagnant and have not changed roles/responsibility appreciably.

bigdogz

TerminalB,

You haven't been too specific about the new company being on the stock market or about your certifications and background so i will help you as much as I can.

You should plan for the worst and be prepared for anything.
You can obtain or update your certifications - this never hurts. Try to obtain your degree if you have not already done so. Constantly update your resume. Add new projects throughout the year. You will be amazed on the stuff you have handled that you may have forgotten.
Because you are being eaten by the bigger fish you may notice some subtle changes. They may keep the current IT for a a year or two or just decide to cut their losses but they would lose a great deal of knowledge. There may be some management folks from your old upper and middle management that may be moved but most of them will be laid off.
Showing that you are willing to work in different environments helps tremendously and management does notice this.
There are also some things to consider about the new company. If they are a public company, they may give you notice.
If you like you job, stay but be prepared.

If you decide to move on, look at the company to see if they have stability, otherwise you may be in a bind down the road.

Good Luck!!!

BradleyHU

WiseWun wrote: »

IMO, 6 years is far too long. This is your opportunity to jump ship. Unless this is your dream job which you want to hold on to and ride out the storm sort of speak.

yeah, i've never been anywhere for more than 2.5 years. I look to leave because I know I can get a bump in salary by doing so, and also probably take on more responsibilities @ the same time...

also, when companies are bought out by another, or merge with another firm...there will be some overlapping for a little while, and then they'll reduce staff...usually the firm that was bought out. This might not happen tho if they allow said firm to continue to function as their own entity...

TerminalB

bigdogz wrote: »

TerminalB,

You haven't been too specific about the new company being on the stock market or about your certifications and background so i will help you as much as I can.

You should plan for the worst and be prepared for anything.
You can obtain or update your certifications - this never hurts. Try to obtain your degree if you have not already done so. Constantly update your resume. Add new projects throughout the year. You will be amazed on the stuff you have handled that you may have forgotten.
Because you are being eaten by the bigger fish you may notice some subtle changes. They may keep the current IT for a a year or two or just decide to cut their losses but they would lose a great deal of knowledge. There may be some management folks from your old upper and middle management that may be moved but most of them will be laid off.
Showing that you are willing to work in different environments helps tremendously and management does notice this.
There are also some things to consider about the new company. If they are a public company, they may give you notice.
If you like you job, stay but be prepared.

If you decide to move on, look at the company to see if they have stability, otherwise you may be in a bind down the road.

Good Luck!!!

My apologies for the lack of detail. Both companies are very large, publicly traded, and were direct competitors. I currently have a B.S. in MIS as well as A+, N+ and S+.

Zartanasaurus

Do you work for Siemens IT?

networker050184

I'd at least apply to the new company and see how it goes. Maybe you get in there and hate it, maybe you love it! Keep your options open. Nothing says you have to accept an offer if you feel things are going to go well at the current place.

N2IT

Be a double agent see what's out there but don't panic. Staying can lead to a glorious career (sometimes), it's not all that uncommon. So many times people make the assumption that bad is going to come out of these changes, that's not always true, in fact a while back a few of us jumped ship from a service desk because the company was purchased from another company in Georgia. We played right into their hands, all of us bounced the hold overs were promoted to specialized systems within the company because they had some experience with them from the previous administration. They all became SME's on Unix systems and make good money. ( I keep in touch with them all the time on LinkedIN and they are doing better than I am financially ).

When a company purchases another company their are stats out their that show that within in X amount of time a certain percentage will jump ship. They are hoping for that. They usually do another round of cuts and guess what? More people jump ship then after all the dust settles you have the leftovers and they can go onto to do bigger and better things sometimes.

TerminalB

Zartanasaurus wrote: »

Do you work for Siemens IT?

Like some have suggested, I'm thinking I might as well just apply at the new company and see how that goes. Worst case, I either turn down the offer or don't get one at all. The apply process might take a few months anyway, so I should have a better grasp on how things are going to turn out by then too.

JasonX

TerminalB wrote: »

My apologies for the lack of detail. Both companies are very large, publicly traded, and were direct competitors. I currently have a B.S. in MIS as well as A+, N+ and S+.

What's your current title and is that what you want to make a career out of? I'd consider obtaining a few certs that are relevant to your desired position, refresh your resume and look for a more senior role.

GPIT

Watch out for Cerner...

TerminalB

I'm currently a senior systems admin and would like to remain in that same general realm. The role I've been eyeing outside the company would definitely be a step up though.

mokaiba

[FONT=Arial, Helvetica, Tahoma, Verdana, sans-serif]I;d start looking into other companies. You don't want to end up fired for a bull reason like parking once the new company completely takes over (my experience).[/FONT]

TerminalB

I think I'm just going to toe the line and if a great opportunity presents itself (which this one may be), then I will explore it. That way I can see how things begin to shake out with the transition while not jumping ship completely.