In case of a merger and acquisition, if manpower is retained from the older company, does the new company have to issue an appointment letter? Is there any provision given by the government?
I am requesting all to please solve my query.
From India, Kaul
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1I am requesting all to please solve my query.
From India, Kaul
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Only the management has changed. The employees have joined a company and not the management. Hence, no fresh appointment needs to be given. However, there could be anxiety and uncertainty during the transition period. To allay the fears, a circular may be issued stating that the new management has taken over the company, and the management is looking forward to the cooperation of employees to make the organization great. There is no change in employee terms of appointment, and the new management is looking forward to making the workplace an enriching experience.
This is what I did when we took over two PSU units in two different parts of the world.
From United+States, San+Francisco
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This is what I did when we took over two PSU units in two different parts of the world.
From United+States, San+Francisco
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1. You have to issue letters to all employees informing them about the merger and their absorption into the new entity on similar terms & conditions of employment. Also, assure them that they will continue to work as usual.
2. Employees have to acknowledge the letter by giving their acceptance.
From India, Thane
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2. Employees have to acknowledge the letter by giving their acceptance.
From India, Thane
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