People like me.
I understand why the decision was made. The past few years have been extremely challenging, all of our processes and procedures scrutinised minutely and audited (and then audited some more) to conform to regulatory requirements. I can see why the company wants to concentrate on its more ‘simple’ industrial roots.
Perhaps somewhat arrogantly, we thought that we were ‘too big’ to be sold off.
Fact is, we’re being sold off precisely because we had gotten too big and too complex.
There was some laughter at the end of our emergency all-employees’ meeting when someone lamented “What about the Christmas party?” haha!
So what happens next?
Because it’s business as usual, I’m going to continue (for now) with my current plan to FI. No changes to my savings, spending or investments. Carrying on as normal.
Job at Risk?
All I know is that at some point in the future, I’m going to be working for another company. This may mean that I stay within the current business I’m in but work for new owners, or it may mean that I am made redundant and I get another job.
Both scenarios mean that my defined benefit pension gets frozen – this is the thing that annoys me most about the situation but such is life, I will adapt my FI plan as and when required.
However, I’m going to stay positive, crack on with my work, see this change in a good light and that we will move onwards and upwards.
Strangely, now that the dust has settled after the shock announcement, the atmosphere in the office has been pretty good, lots of British humour along the lines of Monty Python:
(*I did have shares at one point, purchased via the share scheme at work. I sold them when the price was $35 per share back in 2008 to pay off debts…).