Re:Bandcamp's Entire Union Bargaining Team Was Laid Off
by banannaise on Thursday October 19, 2023 @11:26AM
(#37944207)
"Hey, we sold your entire department's work to this subsidiary, but we're keeping you as part of the parent company. Oh look, there's no work for you to do! You're all laid off. I hear this new subsidiary is hiring."
M&A transactions can get pretty complicated for exactly these reasons; frequently, they disassemble the entire set of assets for sale and divvy them up across one or more buyers, who will pick and choose what they want and then reconstitute whatever they have purchased to their desired degree.