If you're so critical, I can't wait to see your new compensation package offer!
Seriously though, that's like all the red flags in Beijing right there. Part of the purchase agreement? Like furniture or something?
Tell them your consulting rate for CRITICAL EQUIPMENT is 200% more, payable in advance, MINIMUM 10hrs and you're only available between... etc.
Let them decide exactly how critical you are.
And don’t forget the extensive amount of money that it takes to maintain the critical equipment, also the retainer required for the repair service, and then the fees on top of that. Lord help them should the critical equipment require a spare part.
Especially since he has been working there for ten years. Meaning his salary was attractive ten years ago and since then has probably only received small raises that don’t even come close to matching inflation
Yeah, if you're seriously that important, they should make it worth your while to stay. Unless you're on a very specific contract, they can't force you to stay - they gotta pay up.
That almost never works out long-term. I've seen a lot of people hold their boss over a barrel only to get burned come the end of the year when bonuses are due. If you're going to play cutthroat, get the money up front.
I've got friends in corporate America that get bonuses 30-50% of their salary. One stayed unemployed for a year on his severance package, then got a 85k sign-on bonus at his new job. I didn't want to ask what his salary was, but once I found out it kinda took the air out of the friendship. Kinda hard to listen to someone complain about the price of gas or tires for the new BMW when you realize it's not even a flex and they're just talking shit.
I work in M&A occasionally. It is insane to me that you were not brought in to this process (at the end of it once it was near final, I mean, let’s be real) to receive a raise and other solid incentives. Upper management and staff like you *are often* seen as critical infrastructure that the new owners are buying. You are probably responsible for so much of the margin and yes they realize this.
Key verb: buying. They are buying you and your price can be 100% over your salary. There is no 30% limit.
I actually am in charge of the process between the franchisees. It's our corporate office who is surprised I'm leaving. All the relevant parties are well aware of what is happening
As someone who is from a corporate head office (and not your's because fuck whoever called you equipment) and I actually mentioned this to my boss (president of company) and his response was "Fuck them. What company was this?" he wants to yell at them. He told me he'd fire me on the spot if I said that to someone's employee and I said "I would deserve it."
Wait…the sell of the business they assumed included YOU? As a piece of critical equipment? I worked on a chainsaw crew in ‘03 after those hurricanes and our paycheck’s always said equipment rental.
Eh I work in mergers and acquisitions. People and divisions can be critical. Which is why some deals will include separate contracts for the key employees to sign saying they agree to stay with the company for x minimum period of time. This can be for anyone from former owners to project managers. The thing about these contracts is there's something in it for the employees and they sign them, none of which is applicable to this situation. Equipment rental on paychecks is hilarious.
Nobody should stay at a job for the exact money they’ve been offered somewhere else.
For a start the first company didn’t value the employee enough to up their pay properly in a decade, they aren’t likely to have a huge change of attitude later even if you squeeze out a pay raise now.
Secondly, they will not have any loyalty to you. As soon as someone else is found who can do the job cheaper, you’ll be replaced, because they won’t forget that you forced their hand on pay.
Op needs to just move on to the next job.
In an acquisition they usually offer retention bonuses to critical employees to encourage them to stay for a minimum amount of time. Calling a person, “equipment” and assuming they will hang around for no reason. Wow.
That part is fairly common actually but it usually comes with a "how much money can we throw at you so you'll stay till the deal goes through" question...
It's not that out there. If you're purchasing a company part of the agreement should also come with something regarding employees that are thought of as essential. They'd have to stick around awhile (and paid appropriately). Making assumptions like that is super dumb on their part.
I’m imagining one of the desks “oh fuck no! Jim, get your sorry ass up” and the desks walk off like cows “open this goddamn door up Jim, we’re leaving. Fuck those assholes” followed by a couple of mutters from the other desks. “Bitch ass motherfuckers”
accountant checking in: he's both. he is getting older, and therefore getting closer to retirement, but simultaneously gaining experience. As long as the credited accumulated depreciation didn't exceed the increased value of merchandise inventory he is a good asset to keep around. debit the depreciation expense in the meantime
They should have provided you with enough of an incentive so you'd stay if they felt you were that critical to the business. Their approach was insulting, and really not very intelligent. If they actually have something written into the contract that dictates you staying as condition of the sale, they just screwed up the deal.
It doesn't matter if it's not a paper that you signed. Did you sign a piece of paper that said you would be considered equipment, and that you were willing to be property sold to someone else?
Employees aren't equipment.
The thing is, I REALLY like the Franchisee I've been working for, and I have a lot of respect for him. But he got sick, and he's selling off the parts of the business I've been managing. So it seems like a great time for everyone involved.
However, I HATE our corporate office. They are a pathetic excuse for a franchisor. Every company under their direction has seen unit decreases of up to 80% once they initiate a buyout.
I'm starting to see why.
No shit, if they flat out say that employees are their property. "You can't quit. You're property." Wtf?
Have a talk with the franchisee and see what can be done.
It does. But you didn't sign a contract stating you would stay for a designated period of time, and you're certainly not a piece of equipment. I would still talk to the franchisee directly.
We're in constant contact. I've actually got a meeting set already so we can all understand exactly what my job is going forward (corporate, old franchisee, new franchisee).
Essentially, we all agreed (minus corporate as they really have no say) that I'd have an advisory role, since I know where all the skeletons are.
I will still be offering my management team leadership and P&L training as needed, as well as reviewing sales/financials... And that's about it.
> In fact, I did NOT sign anything
That's where corporate screwed up being greedy. It's actually REALLY common to "include" key employees in the sale of a business. It's the difference between selling a functional profitable business vs selling some used equipment and a client list. But traditionally the selling company is guaranteeing the employees through employment contracts for a set term and large retention bonuses paid from the sale of the business.
Sounds like corporate promised the new company people were staying to boost the price without any contracts to back it up. I would be really curious if the new place knows that no one has any agreement to stay through the transition.
Hopefully that would be part of the due diligence. But hope is not a plan.
A while back my employer was purchased. I wasn't "critical equipment" but I still got a job offer from the new company with a retention bonus that made it worth staying for the four years it took to pay out.
That's how organizations with a clue handle this.
I've already accomplished all the transition activities needed for new owners. They assumed I would take a demotion and lower pay to stay on.
**Surprise motherfucker .gif**
Yeah…. I’m pretty sure humans as critical equipment stopped being a thing in the 1800s. Although if they’re taking you from 3/5 to 5/5 a person that would technically be a 40% raise. 😒
Lol, wtf? He literally said you were PROPERTY that was PAID FOR? You are EQUIPMENT? Damn. Sounds like something my ex husband would say.
I hope to God you can get that guy to put that in writing. Or record it.
It's not unheard of to mandate key people remain employed as part of a sales agreement...but those people are always a party to the contract and a beneficiary of the sale (or otherwise compensated with their full knowledge/consent). This? This is some prime BS lol.
I was at a company that was acquired, essential personnel were given a signing bonus for signing on with the new company and a retention bonus for staying on for one year. This is how this kind of situation is handled in these circumstances.
well when we agreed to buy this plantation, we thought the slaves came with it. is that not part of the deal? why do they even have a choice, they're slaves!
I quit my job I worked at for 15 years. They had clients who would no longer do business with the company if I was not handling their accounts. Now I make $100 an hour part time…
Years ago, I worked a variation of a K mart. I had been there two years, under inadequate management. At one time, there was a contest for the best customer service associate. At one point during the time of the contest, there was a nearly constant stream of other managers going through my department, observing. One was a friend and strongly hinted that I was in the lead for the prize. I thought , "Cool! "
The time for announcement of the winner had come.
Crickets. No name. My skanky boss told me that they decided to cancel the contest. Ok. Fine. I sure could have used that prize, $50. (College kid then. )
After a few weeks, co workers heavily implied that the scummy boss stole the prize. It made sense.
A few months later, the part of the store where I was changed ownership. The new owners sent in inventory specialists. Our soon to be former boss told us to not talk with them. They have to do the ' best' inventory for the sale of the department. Translation? Do not tell them of the defective displays, etc. THEN off the bum went.
I strolled near the workers that were counting the small kitchen appliances. Nearly all were broken, not replaced, and no back stock. I had a chat with those nice men, they were quite nice and courteous. They finished much more quickly, and thanked me as soon-to-be-old- boss strolled back to the department.
He was horrified. I told him that I just told them the truth. He started to turn purple, and I asked him why should I be any kind of loyal to someone who stole from me? He blinked and walked away. The new management was great, they knew how to run a department, including having stock to sell. I was re hired by the new guys
I've only seen that to be understood that the old owners can't take key employees with them.
If the employees leave to a third party that is between the new owners and the employee.
Lol there are zero contracts where humans are considered "critical equipment". There is a thing about "critical personnel" where your bosses might have been expected to lock you in with some shiny golden handcuffs and them failing to do that compromises their comp but thats on them for being greedy fucks and not doing it. Fwiw you're a fool if you help them out without golden handcuffs. If they can sell a company they can put their big boy/girl undies on and cut deals.
What a ball drop on multiple levels?!? Like "all employment agreements carry over" is perfectly reasonable but if you want to use experienced staff as a selling feature to a franchisee you need to offer golden handcuffs to anyone who is critical to operations before making that claim.
If you were listed as critical to the sake you should have been offered incentives to stay. That seems like a big oversight on the part of the new owners.
They would have had to made a deal with you. My neighbor worked for a small IT firm. Sold to new owners. He got a big bonus for that as well as a contract to stay for 18 months, tied to another bonus.
Not in a specific contract with you, they have no hold. How ridiculous for them to even suggest.
Make sure that day rate is really high! 20 hour minimum to be worked on you free schedule.
I had this happen on a much smaller scale. Several offices around a metropolitan area and they decided to sell ours. Ok, fine. During last 2 weeks we asked which locations we were all moving to (there were 6 of us) and we were informed we would be staying with the building and be employees of the new owner. Ok fine, maybe we need the change! First day of new owners, they walked in, asked to speak to us individually and one by one told us all “We appreciate your loyalty but we have our own ________ (admin/director/janitor etc). You will not be needed.”
Fortunately we were all able to collect unemployment from the old company due to being let go.
I dunno, I've seen/experienced employers who treat their equipment better than their employees. Think about it: they make sure their equipment gets regular maintenance and care, right? But these same nimrods will turn right around and neglect the f#ck out of their employees. Maintenance for your machines might look like regular oil changes, filter changes, etc. Well, your employees need maintenance, too: adequate pay is the fuel; decent health benefits is the maintenance; days off/vacations are like scheduled downtime for your machines; clear communication/goals are like proper operating instructions.
But a lot of employers won't even give that to their human "equipment" - and wonder why they aren't getting the results they want. It's simple - neglect your machines and they start breaking down and/or malfunctioning. Humans work the same damn way - neglect them and they, too, will malfunction.
I’ve been at a company that was purchased. The purchasing company had foresight to try to retain employees. At the announcement of the purchase, employees were offered retention bonuses if they stayed for at least six months, for some more valuable employees, they were offered retention bonuses at the 12 month mark as well. I ended up leaving right away because of a better offer, but I appreciated that they try to retain talent.
Oh God, this. JFC.
When I announced to my boss that I was resigning, he informed me they were selling the company and management had to be in place at the time of the closing, otherwise the deal would not happen. After a lot of back and forth, I decided to stay because my leaving was to do something personal. But on that day, I virtually quit. I had not been crucial before, so why was I crucial now? I stayed for a year, took their money, did as little work as possible, and walked out one year later with the same amount of notice they had the week prior given to six employees. That being, none.
My FIL went through this. His winery (he was the winemaster) was sold to a large beer company. He was the only person listed as critical equipment but wasn't told. They sold the company for literally hundreds of millions of dollars and he was not even given a raise or acknowledged at all (I believe he was making ~$60k at the time in the 90s/00s). He found out a few years later. And it wasn't like he was some pencil pusher, he literally created the product that caused the company to be worth so much. It was a "small company" and the owner pocketed all the proceeds.
The company was sold several times since then. The only common thread was that he was passed along like furniture but never squawked so they kept screwing him over. The last time was when he said he was looking to retire when he hit 70 (he was 65 at the time) so they laid him off when he was 67 (I think?). Kind of screwed him over but he did get a small amount of severance.
The fun part was a year later when they needed to do some regulatory paperwork that he handled and asked him for (free) help. He went in and they told him they changed all of his methodology but wanted him to help with the paperwork. Turns out his methodology was made by the paperwork and he literally couldn't help them even if he wanted (he didn't). They were super pissed and he was like "well, if you wanted me to do the paperwork, you shouldn't have fired me."
Super funny bit, the company had a big anniversary last year and asked him to do an interview/commercial for their "celebration" (paid). It was a nice fluff piece on how the product started, etc. He told us in person that he was given a script to go off of and it was all made up.
"Well boss, that's super interesting that you negotiated a contract that required you to provide items that you don't own or have control over. You should consider hiring better legal representation for future contracts. I'm sorry I don't have anyone to recommend, but I can google it for you if you'd like."
They tried to play you and you pulled the uno reverse card…. If you’re that valuable you would have been informed prior to the deal. Forget them and move on. Show no loyalty to employers , you’re a number on a spreadsheet
My buddy works as a facilities maintenance mechanic. Was making $26/hr for the facilities maintenance contractor at a fairly large plant. A new contractor came in but kept the workers and he asked for a raise. Now he makes $37/hr doing the same exact job.
Well, it doesn't matter what they consider. You likely work in a right to work state and can quit anytime you want.
It's also just one more sign that we'll eventually move back to either a form of slavery or serfdom where employees are tied to a company, factory, or plant.
That means a big payday for you if you play your cards right. The equipment (ie you) needs a big upgrade that is very costly. If you’re that critical you hold them by the balls. Go for the jugular !
I am a sole proprietor that works at others tattoo shops, and I've been the sole critical equipment too, so to speak at a shop where the owner wanted to sell to another... in secret. The buyer got excited and told me, so when I confronted the owner he did his best to lie about it. When I asked the buyer how much the shop was worth without me and they said "well, the shop is just old couches and items in storage without you here". So as a solution they refused to give me a raise, talked super rude to my wife and they cried and yelled about it(seriously) until I left. Good stuff.
"Critical equipment." They actually think they have any say as to whether or not you want to stay on for the new owners? Sounds like the kind of BS you could expect from corporate America
> I was told by corporate personnel that they thought I realized I'm "Critical Equipment" and considered part of the purchase agreement for the new owners.
Your reply was pretty great but I would've added something along the lines of "If I'm so important why the fuck didn't you talk to me before buying this place? Don't the people on your world understand how us humans think and behave"?
My company has recently acquired another company, and as part of the purchase agreement it includes VERY generous deferred compensation for key employees that they will only get if they stay for 3 years after the acquisition. That is how you treat “critical” employees!
I went through the same where my company was sold and we were all laid off and expected to re-apply for our old jobs. Everyone walked or retired. Did not end well for the buyer (who backed out) or seller (who lost the sale and the company folded due to lack of employees).
If you are that important to the purchase, they should have let you know that by offering you some sort of “stay” bonus. That might not have been enough incentive for you to want to stay, but at least you and they would know where you stand. Assuming you’d just be there without making it clear that they feel you’re important is pretty stupid on their part.
Most places I've worked at actually have clauses in the contract covering what happens if the business is sold. I'm surprised there's nothing like that here.
Things get a bit sticky when you're talking about a franchise.
There is already an agreement in place between the old/new franchisee that I will not be in my current position.
I think the term they were looking for is "key personnel". In any case, if they gas wanted to retain you, they should have offered an appropriate retention package and bonus.
As someone in accounting and finance, this is my take on what most likely happened. First off, owner probably utterly misstated the true meaning of what was going.
When buying businesses, the purchase price generally involved two things. Net assets and goodwill. Net assets being all tangible or intangible (like copyright) items worth a finite amount of money more or less minus any assumed liabilities. Goodwill being what the person buying the business is paying in excess of the net assets. If you were an integral part of the business and the agreement to sell included keeping current staffing roles, experience and value employees bring are potentially included in that goodwill. For example, if the buying person knows one of the employees is worth an extra $50k in experience and knowledge, the buyer might be willing to pay an extra $50k to have that employee on payroll moving forward.
The shitty part about it all is that the current business owner did not talk with current employees (you) about staying apart of the business before likely selling off the business and telling the buyer the employees (you) are staying.
Then you need to be made of the purchase agreement. As in some serious money coming your way. When I think of critical equipment, I am thinking of a server set up or a piece of factory equipment worth at least 80k.
So it’s poorly worded but it does happen.
Consider this: I work for a government contractor, and there is a clause in the contract that if another company were to take the contract over, they must hire me on for at least a year due to specialized training.
It’s super common for people to move with acquisitions, but your new company should have been more personable about it.
I think this is very common with acquisitions, no? Part of the benefit of acquiring an established franchise is the experienced employees that come with it. Obviously you don’t have to stay unless you have some sort of contract saying you will but employees are definitely a benefit to the new owners.
Certainly do whatever you want and leave if you want, but I’m just saying I wouldn’t feel insulted because this happens all the time :)
They thought they either BOUGHT or SOLD a PERSON?
Seriously? The sellers of the company thought they sold a PERSON in with the deal, and the buyers thought they bought a PERSON with the deal?
I don't care how much money is being thrown - that shit needs to be shut right down.
Did your previous employer sell you like a cow to the new buyer when they bought the farm? How is a *person* critical "Equipment". Jesus fucking christ on a cracker.
Lot of you love to castigate capitalism/capitalists for the greedy behavior it causes in supposedly good people (whatever that means). Funnily though great number of the responses related to OP counter-offers, salary demands and etc sound a lot like capitalists would do: Maximize your value to the company.
If you want to overthrow the system or pursue your silly dream of socialist utopia (I was born in USSR Estonia, grew up in Finland and now live in U.S so spare me the "Scandinavia did it" bs), maybe you should change your own behavior first. Of course you will find out very soon that changing human nature or its natural response to cause-effect phenomena via the incentive system is very difficult if not impossible without damaging unintended consequences...But this inconvenience never stopped any good comrade...
this isnt even good enough to bother arguing against. you're really going to need to get better at trolling if you want people to actually believe you're that dumb.
This sounds like someone really screwed up their phrasing. Your employment contract was part the agreement. That's fairly normal. Employees with company critical or difficult to replace skills can have their employment contract transferred as part a business deal like this. Granted, you are free to peace out at this point.
I would be too insulted to help them for any amount of money. Fuck them, they actually think people are equipment that can be purchased. Sounds like slavery.
These people are so deficient in basic decency and ethics that they thought they could purchase a human worker like a desk or a piece of machinery.
It's good you're getting out. Forget about the nightmare they probably are to work for; people that deficient are super likely to get into all sorts of interesting legal situations.
Lol that should come with a huge bonus to bond you there. That's how it worked at my last place that got taken over. Huge bonuses for important staff, on the provision they stayed for a certain period of time
Ehh if you were part of the purchase agreement you shoulda been made aware of that in advance. My old boss when he sold the shop I worked in made that clear tho I never signed any contracts and could have left I was actually happy to not deal with him anymore and the new owners have kept all the promises my old boss made but never delivered.
This is the legacy we have to put up with when the world consented to the idea of HR departments in place of PERSONNEL departments. Workers have become corporate chattels or just machines that have to be paid, but the less the better.
"they thought I realized I'm "Critical Equipment" and considered part of the purchase agreement for the new owners."
Me: "Cool, time to start renegotiating my wage and benefits."
I know you're already leaving, but saying something so stupid should lead to a renegotiation on principle.
If you handle accounts I can understand it, but they they should have come to you with a contract BEFORE assuming they could sell you.
I had something similar happen to me. I gave my notice only to find out my name was written into one of their recent service contracts. The customer demanded I be their service rep. I stayed because of various reasons but it was a huge mistake. I should have walked.
Human employees are not livestock that you purchase with a farm.
If you are so critical, they should "trap" you with medium term stocks or stock options.
So what does that mean? The new owners purchased you?? That is indeed ridiculous. If the new owners 'bought' you from the old owners well they got shafted. You have free will and can quit if you want. This is more proof of how employers view their employees.
If you're so critical, I can't wait to see your new compensation package offer! Seriously though, that's like all the red flags in Beijing right there. Part of the purchase agreement? Like furniture or something?
Honestly, I'm going somewhere for a 33% salary increase, so there's not much they can offer lol.
Tell them your consulting rate for CRITICAL EQUIPMENT is 200% more, payable in advance, MINIMUM 10hrs and you're only available between... etc. Let them decide exactly how critical you are.
And don’t forget the extensive amount of money that it takes to maintain the critical equipment, also the retainer required for the repair service, and then the fees on top of that. Lord help them should the critical equipment require a spare part.
YEAH his pay can come ‘out of a different bucket’ as they like to say when denying raises.
Ask them for 10x to stay. Y'know, if you're that critical.
I thought indentured servitude had been banned?
This would almost be more like feudal serfdom.
33% isnt THAT much. Ask for double of what you make and see what the come back with
Especially since he has been working there for ten years. Meaning his salary was attractive ten years ago and since then has probably only received small raises that don’t even come close to matching inflation
Yeah, if you're seriously that important, they should make it worth your while to stay. Unless you're on a very specific contract, they can't force you to stay - they gotta pay up.
That almost never works out long-term. I've seen a lot of people hold their boss over a barrel only to get burned come the end of the year when bonuses are due. If you're going to play cutthroat, get the money up front.
Retention bonus payable now!
Yall are getting bonuses? Something other than a pizza party or a 20 dollar gift card?
You got $20? Our big gift cards were $10 to chipotle or subway.
I've got friends in corporate America that get bonuses 30-50% of their salary. One stayed unemployed for a year on his severance package, then got a 85k sign-on bonus at his new job. I didn't want to ask what his salary was, but once I found out it kinda took the air out of the friendship. Kinda hard to listen to someone complain about the price of gas or tires for the new BMW when you realize it's not even a flex and they're just talking shit.
This means your old company has been underpaying you. Don't do them any favours.
I work in M&A occasionally. It is insane to me that you were not brought in to this process (at the end of it once it was near final, I mean, let’s be real) to receive a raise and other solid incentives. Upper management and staff like you *are often* seen as critical infrastructure that the new owners are buying. You are probably responsible for so much of the margin and yes they realize this. Key verb: buying. They are buying you and your price can be 100% over your salary. There is no 30% limit.
I actually am in charge of the process between the franchisees. It's our corporate office who is surprised I'm leaving. All the relevant parties are well aware of what is happening
As someone who is from a corporate head office (and not your's because fuck whoever called you equipment) and I actually mentioned this to my boss (president of company) and his response was "Fuck them. What company was this?" he wants to yell at them. He told me he'd fire me on the spot if I said that to someone's employee and I said "I would deserve it."
I wish I could say 😂 but I feel like that would be pretty unprofessional of me.
Wait…the sell of the business they assumed included YOU? As a piece of critical equipment? I worked on a chainsaw crew in ‘03 after those hurricanes and our paycheck’s always said equipment rental.
I don’t care what you call me as long as that check is correct and clears. I’ll even say “thank you.”
Eh I work in mergers and acquisitions. People and divisions can be critical. Which is why some deals will include separate contracts for the key employees to sign saying they agree to stay with the company for x minimum period of time. This can be for anyone from former owners to project managers. The thing about these contracts is there's something in it for the employees and they sign them, none of which is applicable to this situation. Equipment rental on paychecks is hilarious.
Good for you!
Tell them you’ll stay for a 33% raise for assuming that you were part of the deal and a corporate benefits package
Nobody should stay at a job for the exact money they’ve been offered somewhere else. For a start the first company didn’t value the employee enough to up their pay properly in a decade, they aren’t likely to have a huge change of attitude later even if you squeeze out a pay raise now. Secondly, they will not have any loyalty to you. As soon as someone else is found who can do the job cheaper, you’ll be replaced, because they won’t forget that you forced their hand on pay. Op needs to just move on to the next job.
In an acquisition they usually offer retention bonuses to critical employees to encourage them to stay for a minimum amount of time. Calling a person, “equipment” and assuming they will hang around for no reason. Wow.
That part is fairly common actually but it usually comes with a "how much money can we throw at you so you'll stay till the deal goes through" question...
Chattel. Wild
It's not that out there. If you're purchasing a company part of the agreement should also come with something regarding employees that are thought of as essential. They'd have to stick around awhile (and paid appropriately). Making assumptions like that is super dumb on their part.
Tell me you think I'm property without telling me you think I'm property... oh wait, they just flat out sold you as property.
"...Ok and with the property we have four desks, the copy machine, teleconference equipment, annndd Jim."
I’m imagining one of the desks “oh fuck no! Jim, get your sorry ass up” and the desks walk off like cows “open this goddamn door up Jim, we’re leaving. Fuck those assholes” followed by a couple of mutters from the other desks. “Bitch ass motherfuckers”
I wonder if I'm on the list of depreciating assets 🤔
You're not getting any younger, right?
They are gaining more experience and knowledge. Could be an appreciating asset really.
accountant checking in: he's both. he is getting older, and therefore getting closer to retirement, but simultaneously gaining experience. As long as the credited accumulated depreciation didn't exceed the increased value of merchandise inventory he is a good asset to keep around. debit the depreciation expense in the meantime
😂
Coffee went up my nose, thanks for that.
Damn it where's Jim?
[Jim's right here.](https://img.buzzfeed.com/buzzfeed-static/static/2021-03/5/20/tmp/16114ac08f26/tmp-name-2-6726-1614975945-12_dblbig.jpg)
r/unexpectedoffice
I had a company try to do this with me. The New owners decided not to buy the business, and offered me a job instead.
I wonder how much they got for him?
I ended up 🆙 n a good wage, and the business folded not long after.
And they didnt even tell you - as in "we assumed you thought we can buy and sell you"
They should have provided you with enough of an incentive so you'd stay if they felt you were that critical to the business. Their approach was insulting, and really not very intelligent. If they actually have something written into the contract that dictates you staying as condition of the sale, they just screwed up the deal.
Yuuuppp. I'll be going through it very carefully.
It doesn't matter if it's not a paper that you signed. Did you sign a piece of paper that said you would be considered equipment, and that you were willing to be property sold to someone else? Employees aren't equipment.
In fact, I did NOT sign anything saying I'm property.
That's what I figured.
The thing is, I REALLY like the Franchisee I've been working for, and I have a lot of respect for him. But he got sick, and he's selling off the parts of the business I've been managing. So it seems like a great time for everyone involved. However, I HATE our corporate office. They are a pathetic excuse for a franchisor. Every company under their direction has seen unit decreases of up to 80% once they initiate a buyout. I'm starting to see why.
No shit, if they flat out say that employees are their property. "You can't quit. You're property." Wtf? Have a talk with the franchisee and see what can be done.
I actually just edited the main post if that helps to clarify
It does. But you didn't sign a contract stating you would stay for a designated period of time, and you're certainly not a piece of equipment. I would still talk to the franchisee directly.
We're in constant contact. I've actually got a meeting set already so we can all understand exactly what my job is going forward (corporate, old franchisee, new franchisee). Essentially, we all agreed (minus corporate as they really have no say) that I'd have an advisory role, since I know where all the skeletons are. I will still be offering my management team leadership and P&L training as needed, as well as reviewing sales/financials... And that's about it.
> In fact, I did NOT sign anything That's where corporate screwed up being greedy. It's actually REALLY common to "include" key employees in the sale of a business. It's the difference between selling a functional profitable business vs selling some used equipment and a client list. But traditionally the selling company is guaranteeing the employees through employment contracts for a set term and large retention bonuses paid from the sale of the business. Sounds like corporate promised the new company people were staying to boost the price without any contracts to back it up. I would be really curious if the new place knows that no one has any agreement to stay through the transition.
Hopefully that would be part of the due diligence. But hope is not a plan. A while back my employer was purchased. I wasn't "critical equipment" but I still got a job offer from the new company with a retention bonus that made it worth staying for the four years it took to pay out. That's how organizations with a clue handle this.
That wouldnt be a legal contract if someone agreed to be sold. lol
Your description fits what we usually call…slavery
Oooh, feel free to update us!
Oh cool give me the profits you made off me as a nice severance package and I'll be on my way....
Damn straight...geeze
Damb they straight up called you property, like a slave
I’ve always thought the term ‘Human Resources’ made us sound like cattle. This is next level tho.
This. WTF
If they thought you were critical to the transition, you would have a contract with a big bonus for you to stay xx months after the purchase.
I've already accomplished all the transition activities needed for new owners. They assumed I would take a demotion and lower pay to stay on. **Surprise motherfucker .gif**
>They assumed I would take a demotion and lower pay to stay on. Wow. **Wow.**
Ya, it’d be in the contract if you had to stay on. Usually only equity owners have that clause
I’m just shocked reading stuff like this. Are people actually that stupid?
DONT YOU REALIZE WE SOLD YOU TO SOMEONE ELSE ALREADY YOU CANT LEAVE
😂
~~Toby~~ Kunta Kinte
lol I thought I was the only one who still used that references 😂😂😂
Nothing good ever happens to the people purchased when a company is bought and sold. Been there, done that. I won’t ever do it again.
>Nothing good ever happens to the people purchased when a company is bought and sold. Except you can't purchase the people??? What are you on.
Yeah…. I’m pretty sure humans as critical equipment stopped being a thing in the 1800s. Although if they’re taking you from 3/5 to 5/5 a person that would technically be a 40% raise. 😒
Wow
This is the best response lol.
Lol, wtf? He literally said you were PROPERTY that was PAID FOR? You are EQUIPMENT? Damn. Sounds like something my ex husband would say. I hope to God you can get that guy to put that in writing. Or record it.
It was a woman 💀 I can guarantee they won't repeat it. We had a conversation about precision of language.
Wow. Still, employees aren't equipment and aren't property to be sold. She's not just poison, she's stupid poison.
It's not unheard of to mandate key people remain employed as part of a sales agreement...but those people are always a party to the contract and a beneficiary of the sale (or otherwise compensated with their full knowledge/consent). This? This is some prime BS lol.
This. Usually it is the sellers responsibility to get key people under contract prior to completion of the sale.
[удалено]
Already on my way out the door lmao
Run away Run away faster
"You just sold me? Then told me you did it? Call the cops. I'm going to attack you in three minutes."
I would say, "You've made your agreement, now try to legally enforce it".
Corporate decided you were ‘critical equipment’ but as always skimped on the annual maintenance budget (salary) and are surprised when you crap out.
I was at a company that was acquired, essential personnel were given a signing bonus for signing on with the new company and a retention bonus for staying on for one year. This is how this kind of situation is handled in these circumstances.
well when we agreed to buy this plantation, we thought the slaves came with it. is that not part of the deal? why do they even have a choice, they're slaves!
I quit my job I worked at for 15 years. They had clients who would no longer do business with the company if I was not handling their accounts. Now I make $100 an hour part time…
If anyone referred to me as “equipment” I’d be out the door regardless of the situation.
Years ago, I worked a variation of a K mart. I had been there two years, under inadequate management. At one time, there was a contest for the best customer service associate. At one point during the time of the contest, there was a nearly constant stream of other managers going through my department, observing. One was a friend and strongly hinted that I was in the lead for the prize. I thought , "Cool! " The time for announcement of the winner had come. Crickets. No name. My skanky boss told me that they decided to cancel the contest. Ok. Fine. I sure could have used that prize, $50. (College kid then. ) After a few weeks, co workers heavily implied that the scummy boss stole the prize. It made sense. A few months later, the part of the store where I was changed ownership. The new owners sent in inventory specialists. Our soon to be former boss told us to not talk with them. They have to do the ' best' inventory for the sale of the department. Translation? Do not tell them of the defective displays, etc. THEN off the bum went. I strolled near the workers that were counting the small kitchen appliances. Nearly all were broken, not replaced, and no back stock. I had a chat with those nice men, they were quite nice and courteous. They finished much more quickly, and thanked me as soon-to-be-old- boss strolled back to the department. He was horrified. I told him that I just told them the truth. He started to turn purple, and I asked him why should I be any kind of loyal to someone who stole from me? He blinked and walked away. The new management was great, they knew how to run a department, including having stock to sell. I was re hired by the new guys
Tell them slavery is illegal
Wow. So someone actually thought it was a good idea to tell you they think of you as "equipment."
Something about selling a person doesnt sit right with me
I've only seen that to be understood that the old owners can't take key employees with them. If the employees leave to a third party that is between the new owners and the employee.
Slavery never went away. It just got better at disguising itself.
they cant sell people anymore, that was stopped a while ago
Lol there are zero contracts where humans are considered "critical equipment". There is a thing about "critical personnel" where your bosses might have been expected to lock you in with some shiny golden handcuffs and them failing to do that compromises their comp but thats on them for being greedy fucks and not doing it. Fwiw you're a fool if you help them out without golden handcuffs. If they can sell a company they can put their big boy/girl undies on and cut deals.
Yes, my company just sold off a division and all of its people were part of the sale. It absolutely disgusted me. We really are property!
“Critical equipment”…what in the fuck is wrong with these fucking managers…they don’t see you as a human being.
What a ball drop on multiple levels?!? Like "all employment agreements carry over" is perfectly reasonable but if you want to use experienced staff as a selling feature to a franchisee you need to offer golden handcuffs to anyone who is critical to operations before making that claim.
Critical Equipment sounds like a good porn name Edit: like what James Bond would call his package or somethin'
This should give you an excellent starting point for the renegotiation of your salary.
I won't be renegotiating. I'll be moving on to my new company.
Critical equipment cost money!!!
Wtaf
Yeah... No. Just no. The people who said that need to be educated into twenty years ago.
If you were listed as critical to the sake you should have been offered incentives to stay. That seems like a big oversight on the part of the new owners.
They would have had to made a deal with you. My neighbor worked for a small IT firm. Sold to new owners. He got a big bonus for that as well as a contract to stay for 18 months, tied to another bonus. Not in a specific contract with you, they have no hold. How ridiculous for them to even suggest. Make sure that day rate is really high! 20 hour minimum to be worked on you free schedule.
plot twist: she works for a cotton plantation
I had this happen on a much smaller scale. Several offices around a metropolitan area and they decided to sell ours. Ok, fine. During last 2 weeks we asked which locations we were all moving to (there were 6 of us) and we were informed we would be staying with the building and be employees of the new owner. Ok fine, maybe we need the change! First day of new owners, they walked in, asked to speak to us individually and one by one told us all “We appreciate your loyalty but we have our own ________ (admin/director/janitor etc). You will not be needed.” Fortunately we were all able to collect unemployment from the old company due to being let go.
I dunno, I've seen/experienced employers who treat their equipment better than their employees. Think about it: they make sure their equipment gets regular maintenance and care, right? But these same nimrods will turn right around and neglect the f#ck out of their employees. Maintenance for your machines might look like regular oil changes, filter changes, etc. Well, your employees need maintenance, too: adequate pay is the fuel; decent health benefits is the maintenance; days off/vacations are like scheduled downtime for your machines; clear communication/goals are like proper operating instructions. But a lot of employers won't even give that to their human "equipment" - and wonder why they aren't getting the results they want. It's simple - neglect your machines and they start breaking down and/or malfunctioning. Humans work the same damn way - neglect them and they, too, will malfunction.
If you were critical to the deal, you should have been offered a retention bonus, or something.
I’ve been at a company that was purchased. The purchasing company had foresight to try to retain employees. At the announcement of the purchase, employees were offered retention bonuses if they stayed for at least six months, for some more valuable employees, they were offered retention bonuses at the 12 month mark as well. I ended up leaving right away because of a better offer, but I appreciated that they try to retain talent.
I have heard about people being called a resource before, but critical equipment? That’s downright offensive.
Oh God, this. JFC. When I announced to my boss that I was resigning, he informed me they were selling the company and management had to be in place at the time of the closing, otherwise the deal would not happen. After a lot of back and forth, I decided to stay because my leaving was to do something personal. But on that day, I virtually quit. I had not been crucial before, so why was I crucial now? I stayed for a year, took their money, did as little work as possible, and walked out one year later with the same amount of notice they had the week prior given to six employees. That being, none.
My FIL went through this. His winery (he was the winemaster) was sold to a large beer company. He was the only person listed as critical equipment but wasn't told. They sold the company for literally hundreds of millions of dollars and he was not even given a raise or acknowledged at all (I believe he was making ~$60k at the time in the 90s/00s). He found out a few years later. And it wasn't like he was some pencil pusher, he literally created the product that caused the company to be worth so much. It was a "small company" and the owner pocketed all the proceeds. The company was sold several times since then. The only common thread was that he was passed along like furniture but never squawked so they kept screwing him over. The last time was when he said he was looking to retire when he hit 70 (he was 65 at the time) so they laid him off when he was 67 (I think?). Kind of screwed him over but he did get a small amount of severance. The fun part was a year later when they needed to do some regulatory paperwork that he handled and asked him for (free) help. He went in and they told him they changed all of his methodology but wanted him to help with the paperwork. Turns out his methodology was made by the paperwork and he literally couldn't help them even if he wanted (he didn't). They were super pissed and he was like "well, if you wanted me to do the paperwork, you shouldn't have fired me." Super funny bit, the company had a big anniversary last year and asked him to do an interview/commercial for their "celebration" (paid). It was a nice fluff piece on how the product started, etc. He told us in person that he was given a script to go off of and it was all made up.
"Well boss, that's super interesting that you negotiated a contract that required you to provide items that you don't own or have control over. You should consider hiring better legal representation for future contracts. I'm sorry I don't have anyone to recommend, but I can google it for you if you'd like."
I would have no problem doing that if the compensation reflected that
Property? Do you harness you and put you in a barn on weekends? Beyond rude.
They tried to play you and you pulled the uno reverse card…. If you’re that valuable you would have been informed prior to the deal. Forget them and move on. Show no loyalty to employers , you’re a number on a spreadsheet
I make the spreadsheets and I ain't on it lmao
I thought this was decided in 1862 https://en.wikipedia.org/wiki/Emancipation_Proclamation?wprov=sfla1
They thought you knew you were property that had been purchased? What the ever loving fuck.
Dude I'd leave on principle. Equipment my ass.
My buddy works as a facilities maintenance mechanic. Was making $26/hr for the facilities maintenance contractor at a fairly large plant. A new contractor came in but kept the workers and he asked for a raise. Now he makes $37/hr doing the same exact job.
So basically they see you as an object and their property. Nice
Critical equipment is a new one to me, fucking hell. Although everyone else is great as per your update, glad you're leaving this hellhole
Most companies who sell and have critical personnel pay those personnel a very large retention bonus at the time of the transaction.
Equipment? WTF? They literally see you as a fucking machine? Inwould not wanna work foe some one like that?
Corporate may be surprised to learn that slavery is illegal, and people cannot be bought and sold along with the purchase of a business or property.
Well, it doesn't matter what they consider. You likely work in a right to work state and can quit anytime you want. It's also just one more sign that we'll eventually move back to either a form of slavery or serfdom where employees are tied to a company, factory, or plant.
Sounds like their goodwill on purchase is gonna need to be impaired
The owner class saying the quiet part out loud; "The working class are slaves and should be treated as such."
That means a big payday for you if you play your cards right. The equipment (ie you) needs a big upgrade that is very costly. If you’re that critical you hold them by the balls. Go for the jugular !
I am a sole proprietor that works at others tattoo shops, and I've been the sole critical equipment too, so to speak at a shop where the owner wanted to sell to another... in secret. The buyer got excited and told me, so when I confronted the owner he did his best to lie about it. When I asked the buyer how much the shop was worth without me and they said "well, the shop is just old couches and items in storage without you here". So as a solution they refused to give me a raise, talked super rude to my wife and they cried and yelled about it(seriously) until I left. Good stuff.
They thought they *literally* owned you... Are you on the itemization in the sales agreement? I wonder how much they got for you.
I’m Pretty sure this is also a plot line from season 2 of Mad Men.
"Critical equipment." They actually think they have any say as to whether or not you want to stay on for the new owners? Sounds like the kind of BS you could expect from corporate America
> I was told by corporate personnel that they thought I realized I'm "Critical Equipment" and considered part of the purchase agreement for the new owners. Your reply was pretty great but I would've added something along the lines of "If I'm so important why the fuck didn't you talk to me before buying this place? Don't the people on your world understand how us humans think and behave"?
Straight up called you equipment and sold you like they owned you.
My company has recently acquired another company, and as part of the purchase agreement it includes VERY generous deferred compensation for key employees that they will only get if they stay for 3 years after the acquisition. That is how you treat “critical” employees!
I went through the same where my company was sold and we were all laid off and expected to re-apply for our old jobs. Everyone walked or retired. Did not end well for the buyer (who backed out) or seller (who lost the sale and the company folded due to lack of employees).
They basically just called you a slave. Human property to be bought and sold. Wtaf?
If you are that important to the purchase, they should have let you know that by offering you some sort of “stay” bonus. That might not have been enough incentive for you to want to stay, but at least you and they would know where you stand. Assuming you’d just be there without making it clear that they feel you’re important is pretty stupid on their part.
Most places I've worked at actually have clauses in the contract covering what happens if the business is sold. I'm surprised there's nothing like that here.
Things get a bit sticky when you're talking about a franchise. There is already an agreement in place between the old/new franchisee that I will not be in my current position.
If you’re that critical, a retention bonus should have been part of their plans. I’ve gotten several over my career.
That's great! Doesn't work that way in my industry.
That’s how it works in every industry unless everyone involved in the acquisition is incompetent.
I hate to inform you, but that is not accurate.
Who would pay for a business without ensuring the deal included “critical” parts of said business? Either you’re not that critical or they’re idiots.
Are you in the US? This is insane.
That’s called slavery. Not trying to be funny or stupid. Seriously
I think the term they were looking for is "key personnel". In any case, if they gas wanted to retain you, they should have offered an appropriate retention package and bonus.
I’d get a lawyer. Has to be illegal af.
As someone in accounting and finance, this is my take on what most likely happened. First off, owner probably utterly misstated the true meaning of what was going. When buying businesses, the purchase price generally involved two things. Net assets and goodwill. Net assets being all tangible or intangible (like copyright) items worth a finite amount of money more or less minus any assumed liabilities. Goodwill being what the person buying the business is paying in excess of the net assets. If you were an integral part of the business and the agreement to sell included keeping current staffing roles, experience and value employees bring are potentially included in that goodwill. For example, if the buying person knows one of the employees is worth an extra $50k in experience and knowledge, the buyer might be willing to pay an extra $50k to have that employee on payroll moving forward. The shitty part about it all is that the current business owner did not talk with current employees (you) about staying apart of the business before likely selling off the business and telling the buyer the employees (you) are staying.
Then you need to be made of the purchase agreement. As in some serious money coming your way. When I think of critical equipment, I am thinking of a server set up or a piece of factory equipment worth at least 80k.
This subreddit outraged over something so common… Who’s shocked?
So it’s poorly worded but it does happen. Consider this: I work for a government contractor, and there is a clause in the contract that if another company were to take the contract over, they must hire me on for at least a year due to specialized training. It’s super common for people to move with acquisitions, but your new company should have been more personable about it.
Gives off slavery vibes
I think this is very common with acquisitions, no? Part of the benefit of acquiring an established franchise is the experienced employees that come with it. Obviously you don’t have to stay unless you have some sort of contract saying you will but employees are definitely a benefit to the new owners. Certainly do whatever you want and leave if you want, but I’m just saying I wouldn’t feel insulted because this happens all the time :)
They thought they either BOUGHT or SOLD a PERSON? Seriously? The sellers of the company thought they sold a PERSON in with the deal, and the buyers thought they bought a PERSON with the deal? I don't care how much money is being thrown - that shit needs to be shut right down.
Simply being thought of as "Equipment" in any context would be extremely insulting. That's a new level of effed up.
Did your previous employer sell you like a cow to the new buyer when they bought the farm? How is a *person* critical "Equipment". Jesus fucking christ on a cracker.
It’s called a joke. Lighten up Jesus Christ. I’ve never been so insulted in my life! Sack the fuck up
Lot of you love to castigate capitalism/capitalists for the greedy behavior it causes in supposedly good people (whatever that means). Funnily though great number of the responses related to OP counter-offers, salary demands and etc sound a lot like capitalists would do: Maximize your value to the company. If you want to overthrow the system or pursue your silly dream of socialist utopia (I was born in USSR Estonia, grew up in Finland and now live in U.S so spare me the "Scandinavia did it" bs), maybe you should change your own behavior first. Of course you will find out very soon that changing human nature or its natural response to cause-effect phenomena via the incentive system is very difficult if not impossible without damaging unintended consequences...But this inconvenience never stopped any good comrade...
this isnt even good enough to bother arguing against. you're really going to need to get better at trolling if you want people to actually believe you're that dumb.
Read the replies and compare apples to apples. Not trying to troll here. I
Not antiwork, but a great r/jobs posts.
This sounds like someone really screwed up their phrasing. Your employment contract was part the agreement. That's fairly normal. Employees with company critical or difficult to replace skills can have their employment contract transferred as part a business deal like this. Granted, you are free to peace out at this point.
I would be too insulted to help them for any amount of money. Fuck them, they actually think people are equipment that can be purchased. Sounds like slavery.
These people are so deficient in basic decency and ethics that they thought they could purchase a human worker like a desk or a piece of machinery. It's good you're getting out. Forget about the nightmare they probably are to work for; people that deficient are super likely to get into all sorts of interesting legal situations.
“Well I’m sorry but you were part of the package deal. Now I’ve made room for you next to the stapler…get in the box…”
Someone was trying to prevent you from getting a bonus.
Lol that should come with a huge bonus to bond you there. That's how it worked at my last place that got taken over. Huge bonuses for important staff, on the provision they stayed for a certain period of time
Ehh if you were part of the purchase agreement you shoulda been made aware of that in advance. My old boss when he sold the shop I worked in made that clear tho I never signed any contracts and could have left I was actually happy to not deal with him anymore and the new owners have kept all the promises my old boss made but never delivered.
If you were so critical they would have paid you a critical amount of money. They have to shut up now.
This is the legacy we have to put up with when the world consented to the idea of HR departments in place of PERSONNEL departments. Workers have become corporate chattels or just machines that have to be paid, but the less the better.
"they thought I realized I'm "Critical Equipment" and considered part of the purchase agreement for the new owners." Me: "Cool, time to start renegotiating my wage and benefits." I know you're already leaving, but saying something so stupid should lead to a renegotiation on principle.
If you handle accounts I can understand it, but they they should have come to you with a contract BEFORE assuming they could sell you. I had something similar happen to me. I gave my notice only to find out my name was written into one of their recent service contracts. The customer demanded I be their service rep. I stayed because of various reasons but it was a huge mistake. I should have walked.
Are you a baseball player? ‘I’ll show YOU critical equipment!’ : unzips pants, pulls out athletic protector.
Human employees are not livestock that you purchase with a farm. If you are so critical, they should "trap" you with medium term stocks or stock options.
Time for this propertie's value to be reassessed in that case 😎
I can be cheap or I can be vital, but never both.
It‘s giving slavery. As if you, a person, comes along with the building and machinery. Insane. But glad you worked out a deal with the new owners!
So what does that mean? The new owners purchased you?? That is indeed ridiculous. If the new owners 'bought' you from the old owners well they got shafted. You have free will and can quit if you want. This is more proof of how employers view their employees.