Adidas buy Reebok

[RC45]

Originally Posted by Toronto Originally Posted by RC45 Originally Posted by Toronto don't think adidas is looking at it as a take over, more like expanding. they just want to make more money, not take away from the reebok market There is no such thing as a "this is not really a take over" in business. no true just look at the latest Beer Brewing companies in Canada take overs in recent years/months most of them have gone un-noticed because of such a smooth take over allowing people to keep their jobs and run "the old way" and just but the profit into a diff bank account

That's the customers perception - however, go ask the people whose jobs are made redundant and laid off... but any way... you know better - after all you have been witnessed a number of "buy outs" first hand...

[Global Warming]

I'm sure it varies depending on the companies. I was working at BankBoston all during the take over of Fleet Bank. (it’s now Bank of America). It was VERY harsh, people just freak out. People that have been there for 30 years getting "the package" and being walked out every day. It an extremely tense and rough thing to go through in the work place and lasts for a good year. You also go through all the new people that move into your department from the other company and everyone trying to get a long.

It’s a pretty fucked up thing to go through. I'm sure not all mergers are like this, but almost all the financial industry mergers are.

[antonioledesma]

Now I'll take RC's side because it happens in real life.
my girlfriend's dad was regional director for a company of concrete and cement (if those are the right words )
the company had 2 divisions, concrete and cement. Then one day a swiss company bought the mexican company and guess what, they decided to merge the 2 divisions. So my gf's dad was laid off because the company would have 2 regional directors.

"smooth" take overs are when they lay off ppl slowly and without big news about 2000 employees fired

and all mergers are brutal. Why have 2 equal departments and functions with employees. All companies are guided by financial things...

[Global Warming]

At BKB which I was talking about I was the tech guy for the FX group. I reported directly to the CFO and sat on the trade desk with all the traders. one of my job was to shut off all their network and e-mail access about 30 mins before they were told they were being "made redundant" (lol couldn’t resist a “The Office” ref). This was really fucked up because al most all these people were my friends. About 30 of the 90 or so traders were fired. And then new traders from the new parent company moved into their place.

And at a bank in a department like FX when they fire you that is it, you are allowed to go get your personal stuff out of your desk with a security guard standing there and then are walked out the door right then. They can't risk you trying to get back at the bank by e-mailing clients, deleting files, etc. So that is why when they got back to their desk after getting the word the already had been completely cut off from the system.

Of course the next part is all the people left have to start working with the new people that moved into those positions from the other company, lots of resentment and awkwardness.

I agree, I have never heard of a “smooth” take over either. But again, I think banking mergers are among the roughest of all.