What happens if company you work for is sold?

I work as the Accounts Receivable department (do all jobs) for a freight company. We have heard many rumors around that we are being sold or closed down. I know that are cash flow is good, so I'm sure. But, if we are sold, does that mean that there is a good possibility that I'm going to lose my job? Do they have to give us a certain amount of time notice before the conversion takes place so we can secure other employment?? I'm in NC if that makes any difference on the laws...

Asked By: bodmodangel - 12/18/2008
Best Answer - Chosen by Asker
I live in Missouri so I do not know about how this would work legally (by state) but I can shed some light on your situation as the company I work for was sold four months ago to another financial firm... More
Answered By: B-Jo - 12/18/2008
Additional Answers (2)
It depends on the new owners. It will be up to them.
Answered By: Tim - 12/18/2008
When a company is sold it may not be the end of your job. The company may have new capital available. On the other hand if a company acquires another company and there are two employees doing the same job then it may be that one will be let go. Just keep doing the good job you doing and don't be enemies with anyone in... More
Answered By: Richard L - 12/19/2008
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