
New Corporate Owners Gutted Benefits: How to Deal? - ThisIsAStandIn
The company I work for was recently acquired. We&#x27;ve just gotten the list of benefits the new company provides, and it&#x27;s markedly worse than what we had, for more money per month.<p>Clearly, the obvious option is to start jobhunting.<p>However, until I find something else appropriate, what do I do? I feel a profound sense of betrayal by the current remaning management, the past owners who cashed out, and the new corporate overlords. It was no secret that acquisition was the goal, but we got told over and over again that the vetting process was considered and thoughtful, to make sure that our company was merging with a partner who shared common corporate cultures.<p>As an engineer, I feel like I have very little recourse other than to vote with my feet, but I want there to be repercussions for us being treated like this.<p>How do I go about daily tasks when I keep asking myself &quot;why bother?&quot;
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CharlesColeman
> As an engineer, I feel like I have very little recourse other than to vote
> with my feet, but I want there to be repercussions for us being treated like
> this.

Your options are: 1) leave, 2) attempt to unionize, or 3) suck it up. If you
leave, you can do a half-ass job at transitioning your work and take your
knowledge with you, but it's unlikely the bosses care about that or even
notice. It's unlikely that you can successfully unionize, but if you do, the
bosses will _really_ appreciate the repercussions of their actions.

> How do I go about daily tasks when I keep asking myself "why bother?"

You said it yourself: you feel betrayed by all the people you're working for.
Do the bare minimum expected of you, and save your energy for planning your
next step.

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pyzon
Loyalty in business has not been a thing for a long time. Where there's no
loyalty, there's no betrayal. You're right to be angry about being lied to,
but lies like this are so commonplace in the business world that I simply
assume management is lying to me and do my own assessment of the situation.

Take stock of your entire work situation. Don't just look at pay and benefits,
but also intangibles like flexibility, do you like your coworkers, do you like
what you're doing, commute time, etc. etc. Once you've done that, decide if
the whole package still makes sense or if you're better off elsewhere.

Most importantly IMO, let the anger go and coldly decide what's best for you
and what you care about. This wasn't personal. This is simply a result of the
political, economic, and cultural system we live in.

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cascom
Why not simply put the question to the company/manager - “it appears you’ve
reduced my package by X, how are you going to make me whole?”

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CharlesColeman
> Why not simply put the question to the company/manager - “it appears you’ve
> reduced my package by X, how are you going to make me whole?”

And the likely response you'll get is: "Let's not pointlessly talk about the
old benefits package, it's gone, so it's a moot point. We engage in salary
surveys to make sure our pay is competitive, and we think yours is fair and
some make less than you..."

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cascom
Look I'm not saying that won't be the response - but you will usually never
get what you don't ask for - and if the company wants to retain you, they
might surprise you, my point is really more that there is an intermediate
response that allows you to test the waters before or while you start looking
for another job

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chrisbennet
You need to remember that this is a "value for value exchange" \- and they are
giving you less. They have changed your contract unilaterally. You are
entitled to come back at them and renegotiate the contract. (It probably won't
do any good, but I would try.)

"Hey, I see you've reduced my compensation. Let's discuss my new salary."

As for behavior; are you a professional? A professional performs to best of
their ability. Take a fireman or a teacher; they don't "Do the bare minimum
expected of you".

I would just leave.

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weliketocode
My last startup made the decision to change plans which cut benefits across
the board as well.

However, they made across the board salary increases to offset these costs.

Great company. Great culture. Great people.

But I still made the decision to switch to a FAANG for the comp increase.

Here's my recommendation:

1\. Take a breather. Things are really good for engineers right now, and it'll
be ok.

2\. Ask your manager about this in your next meeting. Explicitly state that it
represents a comp decrease. They should respect that concern (even if they
can't do anything)

3\. Get an offer elsewhere. Everyone thinks they're underpaid. Offers
represent the truth.

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JSeymourATL
> I feel a profound sense of betrayal by the current remaining management...

Presumably, remaining management received healthy post acquisition retention
packages.

Relative to how you felt treated. Don't take it personal, it's just business.

Incidentally, 'engineer talent retention' is a Top Priority for senior
managers. Your skills are marketable, you've got leverage.

Have you asked them to True-Up your comp?

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uberman
It seems like you got a raise. Is there any chance that you can frame the
raise as a potential way to repurchase the benefits you lost? It is hard to
know if this would be possible with the (understandably) guarded description
of the situation.

Basically, is there a way to frame things as net-neutral at least until you
find something else?

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ThisIsAStandIn
No, got a pay CUT.

Salaries did not change, but the amount we need to pay each pay period for
health, dental, vision, etc. has gone up about 25% (not unexpected) but the
coverage we get for that has gone down significantly.

We had arguably, really good insurance coverage. Low deductibles (less than
1000), on the order of $20-30 copays.

Now, for 25% more a pay period, we have much higher deductibles, much higher
out of pocket limits, co-insurance (we now have 20% coinsurance until the out
of pocket max is hit), the prescription formulary moves up to the higher tiers
a lot of medications coworkers take....

Same with life insurance/dental/vision. It's more per pay period for
significantly less coverage.

There's no way to frame it as net-neutral, unfortunately.

~~~
uberman
Sorry, I misinterpreted _" for more money per month"_

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bwb
I'd tell them and give them 3 to 6 months to bring it up to spec and deliver
what was there. From their perspective, they are giving you the benefits they
probably already have at the larger company that acquired you. Give them a
chance to make a change as in a big company that can take a bit of time.

If not, vote with your feet.

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cityzen
“ but I want there to be repercussions for us being treated like this”

Don’t do this to yourself, friend. Let this be a learning experience as you
figure out your next steps.

I hope it works out for you!

