Small IT Company Takeovers

[Churchill]

Yeah, I contracted at a firm in Derby and they stopped paying the permies overtime, said they were professionals, and professionals don't get overtime, and put them onto Profit Related Pay. The permies all thought it was wonderful, as the company had always made a tidy profit. I just started laughing (until told off).

Year later: oh dear, sorry chaps, company has not made any profit...

threaded in "Didn't even need the time machine to see that coming" mode.

Well that was pretty obvious considering your daily pie ingestion rate, they're never going to make a profit!

[DeadMansShoes]

Well looks like there is going to be a pay out to senior staff after all. Mind you that could mean HMV vouchers for all anyone knows.

[VectraMan]

The company I'm working for was taken over not so long ago, and I don't think the permies have got anything out of it apart from a promise of a profit share scheme down the road. Directors will sell it to the staff as improved job security and maybe other improvements, but you can't hide the fact they've done it for a fat load of cash for themselves.

I agree with Cojak. Loyal employees are mugs. I'm working for me now, and wouldn't consider permidom unless I had some kind of stake in the company.