Well, It looks like as of Monday, I might well be out of a job. I *think* I qualify for unemployment since technically the company is closing and I’m being “laid off”. I’ve been offered employment from the company that is “buying” my company, but it doesn’t look very attractive (no retirement plan at all!). I need to talk to someone who is familiar with unemployment law to check on that (murky details, so I’m not sure that it’s cut and dry).
I’ve not met the people I’d be working for – although I’d directly be working for my current boss. According to him, other than pay, benefits, etc, the work we do won’t change, the clients won’t really change, etc. I’m leaning towards giving it a try – maybe. I’m meeting with the “new” owners this afternoon. There is a serious non-compete (“Company loyalty”) clause where I can’t hold down any other work while working for them, and anything I come up with while working for them (even on my own time) belongs to them – puts a serious dent in Dad’s and my plan to write our own software. I don’t know how negotiable it is – I can declare previous invention, and since we’ve had this idea percolating in the backs of our minds for a while, I can declare it. I *think* I have to declare this blog, although I make no money off of it (haven’t in over a year), it might turn into something though – and it is prior invention.
Because I’ve been working so hard the last three weeks, my brain is a bit fried – I lean towards giving them the finger and hoping we can make it (I need to make my decision by tomorrow, no idea what time tomorrow though). I need to run some numbers to see if we really can do it, and where we can cut back. I know we can do it if we take Daughter Person out of daycare, but I mentally can’t handle that, so we’d probably do a day or two a week at least – or maybe talk Grammy into staying for a while.
At least I don’t have student loans to worry about! And thanks to YNAB, we have June fully covered as far as income.
So sorry to hear about the consolidation. We’ve all been there. You should be eligible for unemployment, so long as you aren’t a contractor of the former business. If you’re an employee, you’re likely good
I am/was an employee, so I should be good, but as I understand VA employment law, if I get an offer that’s similar to what I had (which this is), I have to take it or I can’t claim unemployment. I have a few feelers out to friends who might know for sure, but I haven’t heard from them yet. I’m leaning towards taking the offer and continuing to look.
Ugh, that’s no fun. Any chance of a severance if you’re technically being laid off? That’s a really short time table they’ve given you to work with.
Not sure what industry you’re working in or what the expectation might be in terms of turnover to another gig… but is it short enough that you can declare the previous inventions and then just table everything else in the meantime out of an abundance of caution?
There’s no severance since technically the company is “going under” and practically declaring bankruptcy – I have a few feelers out to employment lawyers, but all of my PTO might be gone as well – all 4-5 weeks of it! the company is being sold for $1 and the condition that all employees get an offer of employment at the new place. I know for a fact that one (of the three of us) is *not* going to take the offer, the other is probably going to do so, and I”m still a bit on the fence. I think I’m going to take the offer and see what happens – and continue to work my network to see what else turns up.
” I think I’m going to take the offer and see what happens – and continue to work my network to see what else turns up.”
That’s probably what I would do, too. Though Mr PoP might be more likely to tell em where they can put their offer and look for a job while he doesn’t have one. (At least that’s what the younger version of him might have done… he’s mellowed wrt soulless corporate behavior in the last few years.)
After “sleeping” on it (and a very nice long walk at 3am this morning), I might just take a month (or two) off. Trying to figure out how the numbers would look to see if we can pull it off. Our tax situation will change significantly in either case (much more taxable if I take it with no tax shelters, or much less taxable without my income) and I think that might push us over the edge of just getting by vs being relatively comfy…