So I've been working for this company for 8 years. Up until earlier this year, they had been telling me that their plan was to make this an employee owned company and that my time on the job would earn me a piece of the pie, so to speak. Other companies in the area do that, so it wasn't unusual. There's just myself and a co-worker, he's been here 3 years and they had been telling him the same thing since he started. A few months ago, my employers completely reversed their stance on making this an employee owned company and said it wouldn't be fair to their kids, who deserve an inheritance. I felt pretty jerked around, but also understood what they were saying. They're getting older and I guess leaving stuff to their kids is on their mind. Then about a month later in a staff meeting my employers announced that they had decided to sell the business to me and my co-worker (which we hadn't asked about) but they didn't give us a price and told us we had time to think about it because they didn't want to make any changes until January 2018. My co-worker and I had some private discussions. In the very first one, my co-worker suggested we simply start our own business and take all the lines because we pretty much run the business anyway. I said absolutely not, that's now how I work. I don't do things like that to employers. He dropped it. But it really impacted my trust level in him, and combining that with the timing of this I wasn't sure I could swing buying half the company (my husband and I are building a new house and selling our other one so money is tight right now). My co-worker, without my knowledge, told our employers I wasn't interested but he was and has been in discussions to buy the company himself. I just found out about this yesterday, when my employer told me, I guess thinking I was already aware. Well once the cat was out of the bag, everyone started backtracking. My employer was telling me they weren't going to cut me out if I was interested, my co-worker swearing he can't run this place without me and that if I want in he's good with it. But when you combine his earlier comments to him going behind my back on this, now I really don't trust him. I don't know that it would be a good idea to be business partners with someone like that, but neither would I want to work for him. Part of me thinks I should start looking for another job, but I'm well paid where I'm at and have a very short commute. I would probably be hard pressed to find another job that pays this well (initially) and certainly won't find one with the favorable commute.
I just feel sick to my stomach right now. I feel like I've been stabbed in the back. I don't really know what to do.
A few questions: how is the economy where you live? How difficult would it be to find a new job? Are you financially secure that you could be without one for a time if you couldn't?
I believe it was Maya Angelou who said, "When people show you who they are, believe them." Your co-worker revealed who he really is on two separate occasions; in your first discussion when he suggested taking all the lines, and the second, when he said you had no interest in buying the company. If he's willing to be so sneaky and shady at this point, imagine going into business with him. Sorry, he's not to be trusted. And your employers, at the very least, sound incredibly conflicted about selling.
You are a woman of integrity and I know you'll make a decision you can live with. My only advice to you is to keep your guard up.
A few questions: how is the economy where you live? How difficult would it be to find a new job? Are you financially secure that you could be without one for a time if you couldn't?
I believe it was Maya Angelou who said, "When people show you who they are, believe them." Your co-worker revealed who he really is on two separate occasions; in your first discussion when he suggested taking all the lines, and the second, when he said you had no interest in buying the company. If he's willing to be so sneaky and shady at this point, imagine going into business with him. Sorry, he's not to be trusted. And your employers, at the very least, sound incredibly conflicted about selling.
You are a woman of integrity and I know you'll make a decision you can live with. My only advice to you is to keep your guard up.
We're in a recession in our state right now. One of the major sources of revenue from our state (oil) is down in pricing which is impacting businesses statewide, and our state government has gone all kinds of crazy on spending and so it's a double whammy.
I could find another job. I have a good job history and transferable experience. The problem is that in my industry, you nearly always take an initial (significant) pay cut when you switch companies and then earn your way back up. So I'd probably take a huge hit financially for the first few years. That's scary considering that right now our finances can't really take that. We do have savings but with us nearly at the point of carrying two mortgages until we can get the one house sold, it's unknown how long we could get by with just one income.
I love your Maya Angelou quote. I've been feeling the same way- that it probably would be super risky to go into business with my co-worker. In most respects I like him and get along with him, but he seems to have a shady side and it's one thing to just work with him and another to have both of us running a business together where my livelihood depended on his integrity and honesty.
I guess if it were me I would keep the job, but not buy in. And start searching for a new job in the meantime, maybe you can hang on until you get the house sold and then make a move, or maybe you can negotiate less of a pay cut than you expect. While I wouldn't want to work for him, it is preferable to being financially tied to him.
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I agree with Ennay. Don't buy in. You can use your current financial position as a reason. Since your employer has changed his mind a couple times already, wait and see what actually happens. In the meantime, you could look for another job and just maybe you will get a great offer. With your experience and work ethics, you seem to have the upper hand. Good luck to you.
What a pickle! I wish I had a good solution to offer! I would not buy in unless you can find another party aside that two faced coworker...but that being said it's hard to weigh in on a complex subject. In the mean time I don't think it hurts to explore other job opportunities. Maybe they would be better than you expect. But you have a head start at least to look just in case or if something better pops up!
Problem at work- venting, need advice
