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bcrsg · Mar 20, 2007, 06:03 PM

I work for a distribution center that was recently sold to a company called KKR. My question is will I still have a job in the next few months. Our plant manager told us that this was be very good for our company; but when we asked him about the rumors we heard months ago about the plant being sold; he lied and told us it wasn't true. A lot of us are worried about our jobs. Everyone who has stock in the company was told to sell their stock. Anyone with any ideas about how this will turn out for us

Fr_Chuck · Mar 20, 2007, 06:58 PM

I used to be a manager, as such I often knew when we were closing departments or entire factories, but I was under orders to act like nothing was wrong, so knowing these people would not have a job next week, I told them that surely we would be working OK and other things, Managers are required by their companies to do that.

But it all depends if KKR bought it out to run it, or bought it out to close it and sell off.

bcrsg · Mar 21, 2007, 06:34 AM

Thanks for the info. I kind of figured he was lying when he told us that. From my understanding KKR is a firm of lawyers that take companies over to make them better and then sell them later for profit. From my understanding our company was bought for 7.3 million and they paid our company's 380 million debt. Sounds outrageous to me.

ScottGem · Mar 21, 2007, 06:37 AM

There is really no way we can answer your question. This type of thing goes on all the time. Look at it from mgmt's perspective. If you are trying to fix up a company to sell at a profit would you want to lose your workforce prematurely? It may not be fair, but its SOP.