new owner/employer

[momm2500]

What is the name of your state (only U.S. law)? pa
the company i work for was purchased over 2 yrs ago. it appears our original owner (as part of his agreement) was to stay on for 3 yrs and then transition everything over. well less than the 2 yr mark, the new owner/company came in and let my owner go. now we have slowly transitioned certain things over to the new company. what does this do for the employees? do we now abide by the new companies rules? as employees are we entitled to the existing benefits of the new company? for example: they give their employees a bank of PTO days at the begining of the year. my old company will not let you take PTO unless you accure it. meaning the new company would give me a bank of 15 days effective 1/1/09, old company would only let me take PTO after i have work x amount of weeks when i am accuring 6 hrs per pay.

 

[pattytx]

Short of a contract that the acquiring company has grandathered in, yes, you must abide by the new policies. Regarding the change in PTO, consider yourself very lucky; such a policy is very rare.

 

[cyjeff]

Short of a contract that the acquiring company has grandathered in, yes, you must abide by the new policies. Regarding the change in PTO, consider yourself very lucky; such a policy is very rare.

In fact, it is SO rare that I would ask HR to make sure everything is clear.

 

[anteater]

Short of a contract that the acquiring company has grandathered in, yes, you must abide by the new policies. Regarding the change in PTO, consider yourself very lucky; such a policy is very rare.

A question: The acquiring company is under no obligation to insitute its policies at the acquired company, right? It could continue to operate the acquired company using the existing policies at the acquired company(?).

 

[pattytx]

It could. Or it could not. A lot of times, this is addressed in the acquisition agreement, but not always and not often to the extent of a whole lot of detail.

 

[momm2500]

Thank you all. If I understand this correctly is that the new company that took us over, we are to abide by their rules....which is that we then get a bank of PTO credits effective 1/1/09 and do not have to go by the old companies rules of waiting till it is accured?

 

[anteater]

It could. Or it could not. A lot of times, this is addressed in the acquisition agreement, but not always and not often to the extent of a whole lot of detail.

I wanted to get that out there since I suspect that the OP is fishing for an answer that says that the acquired company's employees are automatically enittled to the benefits offered by the acquiring company.

Of course there is an easy way to find out: ask.

 

[momm2500]

i am not fishing for an answer, i just have never been through something like this and of course, the powers that be do not tell the employees everything. So I just was asking what is typical procedure since this involves a major corporation (1500 employees) coming in and taking over a very small company (200 employees)

 

[anteater]

i am not fishing for an answer, i just have never been through something like this and of course, the powers that be do not tell the employees everything. So I just was asking what is typical procedure since this involves a major corporation (1500 employees) coming in and taking over a very small company (200 employees)

Ask your employer.

 

[ecmst12]

It is ENTIRELY up to your employer whether they wish to impose the new policies at your company or leave the old ones in place. The law does not dictate which they can do.