Company bought out, my new contract...

[2linesontheroad]

Can anyone offer advice/experience for me in this situation, being relatively young and new to this experience...

My employer has been bought out by a large american company. My previous salary consisted of a base and a performance related bonus portion, which i have always done well in. The new employer have offered me a new position and today I received the contract/offer letter.

The combined salary anount in the new offer is less than my previous package (even being conservative with the bonus portion)

Other than politely counter offering, is there anything else I might try?

Thanks in advance.

[MK4 Slowride]

Tell Demand a wage increase, use fists and threats. If no joy then wk on their car door handle.

..or get another job.

[s3fella]

I think under the TUPE regs they have to offer you the same terms you were on or redundancy..?

[The Tea Boy]

s3fella said:

I think under the TUPE regs they have to offer you the same terms you were on or redundancy..?

[s3fella]

And your exisiting years of service witrh the old company count with the new one. Unless you agree a new different contract in which case you satrt from scratch with new company.

Pensions are not so clear, any pension you may have had needs to be offered as least as a good as a perk, but it can and often does start as a new pension with the new co, although you can transfer your old pension over in most circumstances. If your new pension satrts afresh, it wont actually be a "pension" as such until 2 years old, so if you leave in those 2 years, even if you have say 4 years total service, you will be able to get your pension contributions back, but not your company's.


Dont sign that new contract until you have spoken with someopne like works council people, your exiasting HR dept or if they run you around, call a solicitor!!

[Chrisgr31]

Indeed you need someone to advise you on TUPE regulations. Just had this in our office where a senior staff member was leaving, and there was a huge argument about what employment contract they were on as they used to work for a different company who was taken over by us.

They hadnt signed a new contract wioth the new company though. Try your local CAB.

[2 sMoKiN bArReLs]

2linesontheroad said:

Other than politely counter offering, is there anything else I might try?

Thanks in advance.

Keep em onside & try negotiating. Yes in theory there's TUPE & CAB etc etc, but in reality if you want to stay there you need them to want to help you.

(If on the other hand you want to naff off, play the TUPE card)

[Alfa_75_Steve]

As a guess.... your bonus probably isn't contractual, it'll be discretionary.

So there's not a lot you can do about it.

I *may* be wrong, but most bonus schemes are discretionary.

[IforB]

Depends if it's OTE or not.