Hi all, I got a job offer which I signed and accepted. Now, 10days before my joining I find a news that my new company is acquired by another company . So, can the new company cancel the job offer? Now that I got early release from previous company and waiting for this new job, should I join them immediately?
From India, Chennai
From India, Chennai
Dear Pravalan,
You have not mentioned the size of the company that was taken over by the bigger company? Secondly, what would be your designation after joining? If you will be working at lower level, then there will not be cancellation of the job offer.
After taking taking over a company, generally restructuring of manpower happens. However, it is too early to predict whether your job will come under the scanner. Sometimes, it takes years to integrate the taken over company with the principal company.
As far as early release and immediate joining is concerned, you may talk to HR of the company. If they permit you, then you may join early.
Thanks,
Dinesh Divekar
From India, Bangalore
7855You have not mentioned the size of the company that was taken over by the bigger company? Secondly, what would be your designation after joining? If you will be working at lower level, then there will not be cancellation of the job offer.
After taking taking over a company, generally restructuring of manpower happens. However, it is too early to predict whether your job will come under the scanner. Sometimes, it takes years to integrate the taken over company with the principal company.
As far as early release and immediate joining is concerned, you may talk to HR of the company. If they permit you, then you may join early.
Thanks,
Dinesh Divekar
From India, Bangalore
It depends on terms and conditions of taking over/acquisition. You could probably broach the matter with new company HR and try to get an idea.
From India, Pune
From India, Pune
Dear Pravalan,
This all depends on the terms and conditions mentioned in your offer letter as well as in the signed agreement between 2 companies. You should approach new HR which probably having same team with whom you had earlier interacted with and get the thing clarified so that there will be no hesitation remain.
This all depends on the terms and conditions mentioned in your offer letter as well as in the signed agreement between 2 companies. You should approach new HR which probably having same team with whom you had earlier interacted with and get the thing clarified so that there will be no hesitation remain.
As seniors already said, it depends up on the terms and conditions of acquisition between the two companies.However, you can discuss the issue with the new employer stating that you already resigned from previous company on the strength of the offer letter , in the event of cancellation.
B.Saikumar
HR & Labour relations Advisor
Navi Mumbai
From India, Mumbai
B.Saikumar
HR & Labour relations Advisor
Navi Mumbai
From India, Mumbai
Dear Pravalan,
You have got a job offer and which you have been accepted and not joined so far. Now it is news that the company you want to join is being acquired by another company .
It is your time to decide whether to join or not. In my suggestion you can join if you are not working any where. It is too difficult to tell what will be the approach & view of new management. In general new management makes changes in key area and put their people. And they may not go for new recruitment or appointment in initial stage of restructre.
If not working anywhere you contact them for the employment as per the offer letter/appointment letter issued, since the company is same with ownership change.
From India, Mumbai
You have got a job offer and which you have been accepted and not joined so far. Now it is news that the company you want to join is being acquired by another company .
It is your time to decide whether to join or not. In my suggestion you can join if you are not working any where. It is too difficult to tell what will be the approach & view of new management. In general new management makes changes in key area and put their people. And they may not go for new recruitment or appointment in initial stage of restructre.
If not working anywhere you contact them for the employment as per the offer letter/appointment letter issued, since the company is same with ownership change.
From India, Mumbai
This matter has to be interpreted in accordance with the Indian Contract Act. Let us examine this part by part:
1) Is offer letter an offer or Intimation of Acceptance :-
Fundamentally speaking there are two documents one is offer letter and the second is appointment letter / joining letter. In the case of an offer letter, where there are information about the salary or consideration along with an offer to join the company. But in case of an appointment letter the stage of offer and acceptance is complete and a final document is delivered. In the previous case their is an offer that you may or may not accept. In the later case you have a contract. Things To Remember While Drafting A Valid Employment Contract
Contract = offer + accepatnce
2) In the case of acquisitions positions of issued offer letters or appointment letters :-
Any acquiring company takes the acquired company with all covenants attached. So all legal resources that are available against the acquired company are now available against the acquiring company, unless specifically excluded in the acquisition documents. So appointment issued before acquisitions are to be honored. But the conditions are precarious when it comes to offers, as they are not yet contacts. See second para of Things To Remember While Drafting A Valid Employment Contract
So if they above issue is based on pure offers then the new company can revoke them before acceptance.
From India, Kolkata
1) Is offer letter an offer or Intimation of Acceptance :-
Fundamentally speaking there are two documents one is offer letter and the second is appointment letter / joining letter. In the case of an offer letter, where there are information about the salary or consideration along with an offer to join the company. But in case of an appointment letter the stage of offer and acceptance is complete and a final document is delivered. In the previous case their is an offer that you may or may not accept. In the later case you have a contract. Things To Remember While Drafting A Valid Employment Contract
Contract = offer + accepatnce
2) In the case of acquisitions positions of issued offer letters or appointment letters :-
Any acquiring company takes the acquired company with all covenants attached. So all legal resources that are available against the acquired company are now available against the acquiring company, unless specifically excluded in the acquisition documents. So appointment issued before acquisitions are to be honored. But the conditions are precarious when it comes to offers, as they are not yet contacts. See second para of Things To Remember While Drafting A Valid Employment Contract
So if they above issue is based on pure offers then the new company can revoke them before acceptance.
From India, Kolkata
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