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Hired and Fired and To Be Hired
I have been facing a weird situation in my career. I joined a small product company a year ago and experience had been good (if not great) till 2 weeks ago. Suddenly investors decided to pull the plug which meant many of us being fired. The Engineering team was reduced to less than 50%. The management was kind enough to give us one month salary though.
And this is when I started the job search. And fortunately landed job in 2 MNCs and I think I have zeroed in on one I would join. But today my boss called up and said that company has "new and better" investors and they want to rehire all. He also promised that such firing situation would not arise again.
This is something which has left me in dilemma. First of all searching a job when you are laid off is not a pleasant experience (and I wish no one ever faces this). Now having gotten more paying jobs my employer is asking me to rejoin them. One thing which I would be lured in to is the stock options I would have with them. But it yet does not look so lucrative to me. For example when I was laid off (or should I say I am laid off) I lost all stock options.
As I mentioned earlier, it was good working with my last employer but I am just not able to find enough reasons to re-join them. Now if I decide to re-join them then what are the questions I should be asking?
Few managers are in a position to make such a promise.
Originally Posted by tarun kumar
When he says "would not arise again", does he mean never again? That seems rather unlikely.
If it were me, I'd want a contract in writing with at least a 6-month severance pay guaranteed. Even then, I'd be very, very skeptical.
At my advanced age, job security means a lot, I probably wouldn't go back. In another six months these "better" investors could be replaced by worse investors.
Patience is like bread I say.... I ran out of that yesterday.
What you are getting is the current truth as the manager see's it. The truth can change and very often does.
Originally Posted by ifraser
Everything comes with risk. You were formerly in a risky position with potentially high rewards. Is less job security worth those risks? That's up to you to decide.
In hindsight, I wish I had taken more risks while I was younger. Married with kids is not the time to be risk taking with your jobs so it also depends where you are in "life."
Good luck whichever route you take!
They're saying "such firing situation would not arise again."???
Ok, get that in writing, then you have a job for life. If they don't really mean that, tell them you have no reason to trust them after laying you off once.
I solemnly appreciate you responses. If not all then at least there is one clarity on my mind about what to ask to my employer who wants to rehire me. I would post on which direction it goes. Thanks again
You need to start by looking at the objective evidence, when things get tough they decided to drop you.
That suggests your on at least the bottom half of the pecking order.
So if things get tough again what do you think might happen ?
I would lean to support what Joe has said. There is no guarantee in a job not hitting the situation again. My current company was touting their record of never having lay offs in 80 years of their existance, and 1 year after joining, they had their first layoffs that affected a good percentage of the employee base.
If you liked what the previous position gave, I would push for a contract giving you a good buffer (6-months serverance and out-placement assistance) if you feel you want to continue with them, but protect yourself better. Granted, if investor's pull out again, then the money may not be there to fulfill their contract which opens up many more doors of hassle.
Insanity: doing the same thing over and over again and expecting different results
Originally Posted by tarun kumar
I want to see at this differently. Since you are interested in stock options, you need to analyse the company situation and current market presence, future market risks and also investigate about your current new investor as well. ( my previous company has been taken over by 'SAP' and the employees who had stock options got huge cash. so you may not have to wait for too long )
To avail stock optionns you also should feel to stay with the company permenently if not long term.
There is no point in asking for 6 months security if you are interested in stock options. and you can always get new role. assume this as a contract role simply , then there would be no pain in looking for new role then :-)