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Well, in order to consider this brazen move, you'd either have to be incredibly confident or incredibly stupid—maybe a mix of both. Whatever the underlying cause in this specific situation, when these new owners acquired a small manufacturing business, they saw fit to lay off each and every last member of their highly specialized staff.
The “average” employee working in the business had been there for 18 years and knew the ins and outs of the company's operations. The new owners had intended for all employees to reapply for their roles, ensuring that they retained only the best members of staff. But, now, with no employees reapplying, the company was forced to consider a complete shutdown of operations and a lack of continuity within their business.
Bewilderingly, in an update on the aftermath shared by the original poster, The new owners were able to invoke a clause reversing the original sale based on the devaluation of the company caused by their own terrible decisions.
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The original poster shared this update regarding the aftermath of the decision... It looks like the new owners were able to use their own bad decisions to invoke a clause that reversed the sale.
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