Work Reform

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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

Our Philosophies:

All workers must be paid a living wage for their labor.
Income inequality is the main cause of lower living standards.
Workers must join together and fight back for what is rightfully theirs.
We must not be divided and conquered. Workers gain the most when they focus on unifying issues.

Our Goals

Higher wages for underpaid workers.
Better worker representation, including but not limited to unions.
Better and fewer working hours.
Stimulating a massive wave of worker organizing in the United States and beyond.
Organizing and supporting political causes and campaigns that put workers first.

founded 1 year ago

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Private Equity Firm Bought My Employer (self.workreform)

submitted 6 months ago by Terrapinjoe to c/workreform

14 comments fedilink hide all child comments

It was majority employee-owned before the acquisition but is now majority owned by private equity firm. The main change I'm noticing is that everyone is being pressured to work uncompensated overtime (we're all on salary here) and requests for training/professional development have been all but eliminated. They also initially hired a bunch of new employees with no specific work in mind and expected us to find the new people work to do then got rid of a lot of people about 1 year afterwards.

Has anyone else rode out a private equity buyout? It's not terrible, but it is extra stress on top of an already stressful job. Is it a good idea to get out now? I've heard they typically sell after around 5 years of "optimization". What happens then?

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[–] [email protected] 33 points 6 months ago (1 children)

Why did the employees allow the sale?

[–] Terrapinjoe 21 points 6 months ago

"mostly" was actually a subset of employees that owned a controlling interest and shared with some more passive investors. I don't know the details on how the PEF got a majority but I imagine the passive investors were bought out and can't imagine it took many employees to defect to produce the majority.