Company for sale - my benefits?

nej

All,

The company I work for is up for sale. Assuming I don't get laid off in the process, what happens to my benefits?

My package is currently my salary, a car allowance, a fuel card, medical and a (not very generous) pension.

Would the purchaser be required to keep all of these, or could they decide that I didn't need a fuel card and remove it from me? Obviously these things are in my contract of employment.

Thanks,

Astaroth

I dont know what THE LAW is but with all the buyouts I have facilitated we have given employees of the bought out company the option of staying on their current contract or moving over to a new one (but keeping the original continuous service date). Typically however some of the clauses in the original contract become non-sensicle (sp) and so it has been very much in 90% of employees favour to move - for example in the last one people who stayed on their current contract would no longer receive an annual bonus as the amount of the bonus was dependant on the profitability of a legal entity that no longer existed.

Things like corporate credit cards/ laptops etc tend to be governed by company policy rather than a contract of employment and therefore your entitlement to these types of fringe benefits can easily change independant on what happens to your contract with employment.

Needless to say that even if you are able to keep your current contract and elect to do so, if you change job within the company you will almost certainly be required to sign a new contract for the new job and this will therefore be one of the "new" style contracts

Caz312

nej
Have a look on the web for TUPE - Transfer of Undertakings (Protection of Employment) You will probably find that pensions are not covered however some companies will transfer them 'in the spirit of TUPE' The info may cover the other parts - I have known situations where other benefits are 'bought out' in the process - eg salary inceased but fuel card gone

nej

Thanks for the info guys.