this post was submitted on 11 Feb 2024
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Not a db, I just want to share one reason that happened to the startup I was working at.
The owners were thinking about keep business as usually which means paying more to the employees or scaling up which is very expensive, they only had small to medium sized companies as their customers(but many). Then this big company came from a different country, they were on a shopping spree buying a lot of companies(scaling up and taking over the market). The owners of the company I worked at were soon 65 or above 65 so they thought that it was a opportunity. Because if they sell then they don't have to be worried about money after retirement. So they did. But they did think the company would be taken care of, but I think they also looked away from the bad stuff, wishing this would be great. Almost everyone left the company after a year or two (myself included), it was a sinking ship. Same goes for the other companies they acquired.
Tldr; selling the company to get retirement money while hoping the company will be taken cared of. Took only a year for ppl to leave because of how bad it was.