In 2008, our 250 employee company was bought out by a fortune 500 company for close to $300 million or 10 times revenue. Just a few weeks ago, that same company dumped us for less than $25 million or the equivalent of 1x our declining revenue. Following this transaction, my position got downgraded last week as a result of losing an important amount of customers; while the upside is I am well paid now for what I am assigned to do, the downside is my career just got an unexpected hit and that hurts.
How did it happen? Well, our product is becoming obsolete as our company failed to evolve its products to the changing landscape in mobile platforms. The salvation plans put in place by our acquirer, a nobody company with about 150 employees at most, are not very convincing. I no longer believe in the future of this company and it’s time to jump ship.
If you were wondering why I missed out on posting all of last week it’s because I was gearing up to searching for a new job. The little free time I usually have went into working on an exciting new report for the oil and gas investment bulletin, setting up profiles on job sites and updating my CV in both English and French. I also started re-activating my network of connections in order to get my CV into as many companies as I can. While it’s been only a week since I started my search with no results so far, I give myself an A for the effort and an F for waiting too long until I got hit with the obvious outcome seeing where the company was heading since the beginning of the year.
Of course, this is not as bad as losing my job and I still get to keep my salary except that right now I really hate the things I will be working on. On the plus side, this is good as the discomfort will boost my initiative to search for a new job. Next up, even though I graduated back in 2003, I plan to reach out to my university to see if they can help in any way.
So forgive me for leaving you stranded last week, I will recalibrate my time to keep a minimum number of posts going as there’s always interesting subjects to catch up on. It’s also about time I make the round of my juniors to see where they’re at and get the latest impressions from management.
Have you gone through this situation before? Any more tips you can provide me that would help my search?