Another company's buying our place of employment and I'm worried?

My bosses have just sold the company who i work for,and they leave in two weeks. And to be honest im extremely worried about the security of my job. I have been there for 4 years and i need to know wether they have to keep me on by law .(my present employers have said that they do ) also wether they can put my wages down (again my present employers say they cant . Also if they decied to shut the premises for refubishment do they have to still pay me ( a retainer fee).Im v. worried as i am on my own with my daughter who goes to college and my wage is the only one comming into the house. I need answers that people know for sure as i need accurate information not guessed answers or incomplete answers,thanks a lot guys i'd really apreiciate it if u could put my mind at rest, im not getting much sleep worrying about money what with xmas round the corner!!!Also ive never had a contract with my old employers but my new ones wish to give us a contract . im worried. xx
Additional Details
the companys really little a resturant with only 5 employees and 5 wash-up staff they dont know how anything is run .we know how to keep it going otherwise they will loose a customer base thats been built up over 20 years u see so i need to know where i stand legally . i thought that u had to do something wrong to get the sack?can they get rid of us and then employ new staff ?

Rick B

I don't know where you live or what you do, but in most cases they can terminate you. There is no law that says any employer can't fire an employee.

My medium sized company just bought our very large competitor. We fired many employees. Many other left on their own. We kept the ones who will contribute to our organization.

TUPE regs generally protect employees when business are sold. Please see text below, from website link pasted below. Please go to the website as it will give you much more information.

If the business you work for changes from one owner to another, you need to know how it will affect you. Find out what it means for you if there's a transfer of the business to a new employer, and your employer's responsibilities to consult you.
What it means
If the business you work for changes hands, your terms and conditions are protected. Under the Transfer of Undertakings (Protection of Employment) Regulations (known as 'TUPE'). the existing terms and conditions of your contract of employment will transfer automatically to your new employer. This means that you will normally carry on working for the new employer as before.

If the new employer refuses to meet the terms of your contract, this will amount to a breach of contract.

Shirley

Unless you are fortunate to get this question asked on this site by a pro, (which I am not), you really should inquire with the Labor Board in your city, or with an attorney that specializes in Job Descrimination related issues, in advance, so you know if you will have a battle on your hands.

There are a lot of things in life that are done to all of us unfairly, and there are a lot of high power people (such as owners of big companies) that know just how to work their way around the system, to get what they want in the end.
Even if it means firing you for no good reason other than for them to come up with an excuse like "poor work performance".

Life has no guarantees, no matter what the outcome, and no matter what advice you are given.

Perhaps you will be lucky, and the new owners will be great, and lean on employees such as yourself to aid them in office policies and past history on the company, since you have been there 4 years.

I do wish you go luck, and I hope it all works out for you.

hopefulone

I've been in your spot, try to talk to their HR person. If they are
new in the area it would'nt pay for them to start fresh. They
will probably screen people. You might be able to get on a
displaced worker program where you can get pay to go to school to learn a new skill. Change is good.

Ask M

the only one for sure is the people who sold the company, all new owners have people they want to work with and they won't do anything right away so pretend your are on 90 days probation and hope they keep you, in the meantime update your resume and yes they could lower or raise your pay

glitter

I was part of a company that was bought out by a larger group too....Don't worry,they will have bought the company with original staff,so nothing will change there.Some little things may change of course,like the suppliers they use etc,but from a contract point of view,legally they can not alter your contract.Just a thought-if you still have two weeks grace,would it be worth having a word with your old employers to see if they could whip you a contract together before they leave,detailing your roles and responsibilities?good luck hun-and don't worry!!:-)xx

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