Topic: bankrupt company up for sale

Is it advisable to accept a temp to perm position form a company that has been in bankruptcy since thanksgiving and is looking actively for a buyer. In this economy, a job is a job. But I'm worried, Ill be laid off again since restructuring follows acquisitions. The management thinks I would not be affected. But they do not know who, when or if they  would be bought. The company has a long history.

Re: bankrupt company up for sale

If you're not working at the moment, I'd take the job and take my chances.  Worst case scenario, if you are laid off at some future date, you won't be any worse off then than you are now.  I would, however, quietly continue my job search even after accepting the job.  If something better and more stable comes along, you can always move on.  Furthermore, even if they find a buyer for this company, it's highly unlikely that they'll get rid of everybody and start from scratch - somebody's got to keep the company going and who better to do that then the people who are already working there.  Here's another thought: To make sure I was one of the people a future buyer would want to keep, I'd do the absolute best job I could and make myself as indispensable as I could.  Make sense?

Re: bankrupt company up for sale

[quote="olivia":asbzomx3]Is it advisable to accept a temp to perm position form a company that has been in bankruptcy since thanksgiving and is looking actively for a buyer. In this economy, a job is a job. But I'm worried, Ill be laid off again since restructuring follows acquisitions. The management thinks I would not be affected. But they do not know who, when or if they  would be bought. The company has a long history.[/quote:asbzomx3]

well i think you should take the chances..you need the job and a bread winner at that..who knows that if the new owner will absorb you or maybe paid the number of years you're in the old company..

Re: bankrupt company up for sale

[quote="olivia":3w3hzxn8]Is it advisable to accept a temp to perm position form a company that has been in bankruptcy since thanksgiving and is looking actively for a buyer. In this economy, a job is a job. But I'm worried, Ill be laid off again since restructuring follows acquisitions. The management thinks I would not be affected. But they do not know who, when or if they  would be bought. The company has a long history.[/quote:3w3hzxn8]
I don't think so. Most companies like that usually shut downs after some time because they can't keep the pressure of the economic crisis.