Wife is working for a startup and she's been there for 5 years now(company existed for 8 years). Working on core tech. Company is trying to exit via IPO or acquisition, but latter more likely. If acquisition happens it will be announced in Jan the earliest. Given that she is working on core tech, most likely she will be fine. But just concerned since we will be closing a house in Feb/March.
There will be layoffs when the market crashes sometime in the future.
From what I've seen, it goes non-essential is cut off immediately. Next two years they evaluate everybody else. After two years you are "safe" and can consider yourself part of the company. This is mostly because those two years are scheduled for the integration of companies. If the company was bought for clients and not product, then being core tech doesn't mean anything as the new company will likely sunset the product and only keep maintenance crew on it.
Is that true for all types or just PE?
Agreed. We have enough dough to survive for 1.5 years on single Salary. Just want to close the house in March. What are the chances that anything major happens in 2-3 months after acquisition ?
It really depends on who they are acquired by. Every company operates on its own internal time-line and every acquisition has a different stated goal. The best possible outcome for your wife would be acquisition by a company that cares about the existing portfolio and wants them to continue to innovate, and thinks the best way forward is to not make sweeping changes. This is not guaranteed, however. They could be acquired by a company just to bury the tech, in which case they'll lay off almost everyone. You won't know more until an acquisition is announced
Yeah, their CEO who is driving the acquisition wants to make sure the acquirer doesnt bury the tech. It's a very narrow market so they will know who is for or against the tech.
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Why are you worried about lay-off if she in core tech ? Is your wife a slacker? Is the loan value depending on dual income?
Yeah loan value depends on dual income. She's not a slacker. Lol. They are trying out some thing new(Like R&D type, still core) and forming a team this month. So if the company that acquires has an intention to retain only the product that has revenue and kill everything else, there is a slight chance the might just dismantle her new team, she will be fine if they go by merit.
If you put two incomes to pay for you house - you’re fucked.