Might have to start looking for a new job..... again

[TeRRoRiFiC35]

For those of you that follow the financial news, the Fortune 500 company that I work for bought out another company last week and they plan to cut 500 jobs (10% of the workforce) between the two by October. Unfortunately that is not all they plan to do. They will now have two corporate headquarters, one in Texas and the other in New Jersey. Also they are unsure which accounting departments will be in which headquarters, so the possibility of my job going to Texas is also a possibility. They plan to do an accounting software change from JD Edwards to SAP; I used to work with SAP at my old job. Finally they might consolidate different accounting departments. Don't forget, they are not firing everyone from the old company but deciding which departments from each they will keep or retain the people.

On one hand I'm mad at the possibility of losing my job. For starters, I quit a job that I knew would be stable even though I was being grossly underpaid. I also sat at home for 5 weeks after I quit my old job because my background check didn't clear (it took the company doing it over 3 months, that's an entire story in itself). I've only been working here for 4 months now so that wouldn't look good on my resume. With only being here a short time, my odds of being laid off increases in my head. I have done two system changes in my career; once where I interned and contract work out of college. They are not fun items to do and the process is long and grueling. Lastly I turned down other jobs for this one and have been turning down the possibility of interviews since I started here.

On the other hand it will allow me to go to a different company that will provide me with more work to do and the possibility of giving me more knowledge in the field to possibly be promoted. I also wouldn't have to pay back the signing bonus I received since the stipulation on it is that I have to be here a year before not having to pay it back. The signing bonus is the equivalent of one and a half paychecks. In that time I could receive a severance package, collect unemployment, and look for a new job.

I don't know what to do now. Do I start looking for jobs now? Do I wait till the possibility of being laid off? Do I even want to stay here knowing all this huge change is coming? I have so much to think about over this time period.

[bumere90]

If they need you, they won't get rid of you.

[Joekerr]

I'd wait it out a while longer, see what more rumblings you hear.

If you've been turning down interviews then maybe it won't be as long the next time, but in the meantime, if you want to stay, start speaking up about your skills with SAP - volunteer to get involved in the transition side (let them know you'd be happy to help the team). That will make you seem quite needed.

[Litos]

are you referring to CB&I buying Shaw Group !??!

if so, might as well start looking now.....

[TeRRoRiFiC35]

Originally Posted by Litos

are you referring to CB&I buying Shaw Group !??!

if so, might as well start looking now.....

Nope, wrong industry. If you live in the Southeast/anywhere near Texas, it might affect a utility you use everyday.

[Litos]

ok, carry on.

good luck man....

[grieverr]

I wouldn't panic over the merger just yet. At my same desk, I've worked for 4 companies! It's been buyout after buyout, layoff after layoff. Thankfully I've survived. It's been rough, though, since you end up with the work of the people that left.

However, the point is, your job may not be in danger, just don't be slacking off. Also, I agree with Joekerr, if you wanna stay on board, show interest in the transitional projects. And especially see if you can lead a project. I've seen that turn into promotions more often than not.

If you have any connections/contacts in the field, now would be a good time to start talking to them and feeling out what your prospects would be for a new job. Mention your concerns, but I wouldn't start actively interviewing unless you're looking to leave regardless of a layoff or not.

[Undertow]

Keep your resume up to date. Contact a few head hunters but don't panic. Even in the case of layoffs, generally there is a long lag period and period where you may get to pick up some stay bonuses during a transition period.

[SpacE82]

Originally Posted by bumere90

If they need you, they won't get rid of you.

This isn't always the case unfortunately. I was recently told that I am going to be laid off from a major hospital here in Chicago (no I'm not a doctor, I do analytical work). I'm still working here until my layoff date comes, but I am the only person that knows how to do the work i do....yet they still laid me off. So just because they "need" you doesnt mean the wont get rid of you. It's all about the new company structure and MONEY. The work i do is essential to some of the reports that are presented. It is going to be a struggle for them to complete those reports, but to be honest, it's not my problem anymore.

Fortunately I heard about the layoff the same day I was unofficially told I got a new job elsewhere. So the layoff news wasn't so bad for me. If I didnt have this other job lined up, I would have been devistated and stressed. However you look at it though, it still sucks, because in order to get the severance, you have to continue to work till the date you are officially laid off. It sucks because I have no motivation anymore.

Good luck to you OP, like others have said, don't panic (trust me, i know how hard the uncertainty is), but you just have to look at it as, it is what it is and what will happen is going to happen. It'll all work out and if you do get laid off, something better will come. It's cliche, but you will work harder to find a job that you like more and you will find something better. I'm going into a new position that I would consider to be a dream job/company for someone in my field.

[f30nynj]

I was a part of company that was bought over by Rupert Murdoch 2 years ago. It was a great company and the culture was very laidback. Though stable job, once you enter the corporate world with big investors who have big expectations, then you are churned like in hell.

I then decided it was a good time to leave company after the vested shares were paid off 1:10. ) Later, I heard that a lot of great colleagues left that company and and that company just exploded with lot of new people. The culture started to fade away. Neverthless I still stay in touch with them.

So, if you are comfortable with your job and pretty satisfied then stick with it. Meanwhile, it doesn't hurt to look for a job if you are looking for a change afterall.

[Seminole]

I assume you worked in public accounting before (based off the stable but underpaid and accounting dept comments). If that is the case you could always jump back in short term to have a job while you look around for another one. Right about now is when people start to quit so the firms are looking to reload for busy season.

[TeRRoRiFiC35]

Originally Posted by Seminole

I assume you worked in public accounting before (based off the stable but underpaid and accounting dept comments). If that is the case you could always jump back in short term to have a job while you look around for another one. Right about now is when people start to quit so the firms are looking to reload for busy season.

I think me and you had this discussion before. Nope, zero public accounting experience. Remember I talked about possibly going back to school to get my 150 credit hours/masters so I could even sit for the exam. I just wasn't thrilled at that aspect.

[Joekerr]

Originally Posted by Seminole

I assume you worked in public accounting before (based off the stable but underpaid and accounting dept comments). If that is the case you could always jump back in short term to have a job while you look around for another one. Right about now is when people start to quit so the firms are looking to reload for busy season.

"reload"

Interesting term, yet pretty accurate

Am guessing you're in that field as well!

[Seminole]

Originally Posted by TeRRoRiFiC35

I think me and you had this discussion before. Nope, zero public accounting experience. Remember I talked about possibly going back to school to get my 150 credit hours/masters so I could even sit for the exam. I just wasn't thrilled at that aspect.

Gotcha, I forgot about that. My memory is pretty bad, haha.

Either way, there are lots of head hunters out there for accounting jobs. Linkedin is key to getting your name out there. I would sit tight for a little bit though until you get a more definite feel for what your job situation will be. If you get the feeling you'll be cut then go ahead and start looking/making a move.

GL with whatever happens though

[karliejai]

I would start looking for a job just to have it as a backup plan.