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O Well another new chapter starts...
Dave Bailey - 23/12/13 at 08:32 PM

Why is it that company's seem to think it is a good idea to put the wind up its employees just before Christmas.. Told today that we are to be bought out by Seagate... We being Xyratex.... Yet another uncertain year starts...

Dave B

T66 - 23/12/13 at 09:07 PM

Unfortunately Its a sometimes used management practice with companies, to ensure you compliance and tight lips in the face of change, it implies your meant to be grateful to have a job. Because if your not "Theres the door" attitude...

meanwhile the worlds decent companies, give their staff a Christmas bonus, some thanks and an active part in the business, rewarding hard work and honesty.

Staff inclusion is how companies progress & grow, not exclusion which only creates uncertainty, and a bad feeling.


Hopefully the pathetic decision to offload before Christmas is just bluster and amounts to nothing. Feel for you !


Illegitimi non carborundum

whitestu - 23/12/13 at 10:16 PM

I don't think they even consider it. My place decided to let 300 ish people go (including me) at the beginning of December.

At least I get a nice long Christmas holiday!

Stu

Xtreme Kermit - 23/12/13 at 10:19 PM

Standard technique for giving bad news and allowing people time to consider it out of the office.

These things can be driven by financial merger timelines around year end etc.

Hopefully your future will be secure

matt_gsxr - 23/12/13 at 10:54 PM

Sorry to hear your news. New year, new opportunity, California is very nice.

I guess they needed to issue a press release to avoid trading uncertainty and all the 'issues' that can cause
http://www.xyratex.com/news/press-releases/seagate-technology-acquire-xyratex-ltd

spaximus - 24/12/13 at 08:38 AM

It happens a lot around the year end because many companies finacial year is the calendar year. I know of many who have closed as tax bills are due and they can see the company has no future to recover.

Companies buying another, again often do so at year end as they have a better picture of the real value of the company.

Look on the bright side, if you have been bought the company has value and many times new companies bring investment and growth that would not have happened if it stayed the same

James - 24/12/13 at 10:12 AM

quote:
Originally posted by Dave Bailey
Why is it that company's seem to think it is a good idea to put the wind up its employees just before Christmas.. Told today that we are to be bought out by Seagate... We being Xyratex.... Yet another uncertain year starts...

Dave B


My Dad used to work there!

TBH, if you play it right you are now part of a bigger organisation and you can use it as a good opportunity to move upwards!

However, if you hate it after a couple of years you can move on and you'll have Seagate on your CV as well- without all the hassle of having actually changed jobs!

All the best,
James

David Jenkins - 24/12/13 at 05:09 PM

My son actually gained from a takeover like yours - he got taken on as a lab chemist in a piddling little company in a local town, which was good as at least it was a job, but little chance of progress.

After a while it got bought out by duPont, who immediately sacked the (fairly useless) members of the family who founded it, and then put all the employees they wanted to keep on a development programme. My son is now a happy lad...