questionsshould i quit my job?

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First off, sorry to hear that! I went through this about a year ago. If you want you can dust off your resume and start applying for new positions while you're still working there. I'd say stick with it while you can so you keep that steady check coming in, it's a lot harder to find work now than it was when you took the position I'm sure. If you end up getting laid off or fired you can at least collect unemployment benefits or possibly get a severance package. If you quit you won't get either of those benefits and will be looking for new work without any income, which adds a lot of unneeded stress! Good luck to you in your search!

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How much do you have in savings? If you have enough, you might stay for a bit longer.

Personally I would start looking for a job right now and wait until you secure an offer before quitting. It is much easier to get a new job with a job.

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I'm completely with @hackman2007 on this one. Unless you have greener pastures to immediately start grazing in (translation: have a job you can go to) I would not quit. I would, however, immediately start updating and polishing my resume, either join LinkedIn or update my information on it, and start networking like crazy. It could be that your boss and co-workers are just being negative. Or it could be that they know something that you don't. Best be prepared.

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Echo the above posts. Wait until you have something else lined up.

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Fantastic answers so far. Really not much I can add.

I see no reason to quit this very second. But I would start job hunting ASAP. It may take you longer than you think to find another position, so having that income in the meantime could end up keeping you afloat. If the new bosses come in and lay you off, you'll get unemployment for 6-12 months if you need it. It's not much, but it's certainly something you wouldn't get if you walked out the door willingly.

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Looks like we're all in agreement for you to ride that bronco until it bucks you off. It's an ugly job market right now and unless you're a wanted & rare commodity, stay on the job, cut back expenses and attempt to save as much money as you can in the coming months. Worst case, you are terminated & receive unemployment benefits, etc. Best case, you stay on, eventually LIKE working there AND have managed to set aside a bit of a nest egg for emergency situations.
8 seconds, baby!

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Absolutely start looking for another job, but not just outside of this company, but within the company itself. Since your boss just left, this might be a great opportunity to run the team yourself (and pick up a pay raise at the same time.)

Send the resumes out there, keep in contact with old coworkers (they might have an in on a new job for you as well), and also send one to your current company as well. You have some value to the new company - you know the old.

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It's hard enough to get a job right now. If everyone's leaving, then you have quite a bit of seniority when they hire in a bunch of new people- and you'll be better suited to move up. All of a sudden, you're an expert.

How bad is the company that bought yours?

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From personal experience, I would also encourage you to take this time to give yourself two "gutchecks". One financial and one personal. For the financial, go through your monthly budget and start eliminating the things that you can live without. Take a look at what you spend your disposable income on and cut back (excluding woot.com, of course). If you get a better job or promotion you can always add things back into your budget. On the personal side, you may want to look at the possibility that this is a sign for a change. Keep your eyes, ears and thoughts open.

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My wife's company is going through a similar situation. They are currently owned by private equity and are now going through a merger that will leave the second company in charge. In her case, I want her to jump ship before the merger is complete. I know her job is not safe and I do not feel like the new company would be any fun to work for.

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I'm not clear how quitting a job because of the "uncertainty" is logical, since having no job brings a lot of uncertainty.. and no paycheck.

I've been through a few company buyouts/takeovers. I let others do what they wanted, and I just kept doing the best job I could, and hoped for the best. Each time, I made it through RIFs and avoided all the politics. I did update my resume, and I did put out feelers to keep my options open.

But, I'd never just quit a job because of uncertainty, or because others are. Life in general is uncertain, and I don't quit life :-)

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Update your resume and start looking for a new job, but definitely don't quit until you have one. Worst case scenario is you'll be laid off (no shame in that!) and may even get a severance package to provide a financial cushion. Stay the course.

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im gonna invoke @belyndag to comment here, so we can have some follow up to http://deals.woot.com/questions/details/931718bd-d34c-4699-a3e3-82e811134def/should-i-just-retire#22
also i'm offering belyndag's services as your HR rep whenever you start your own business.

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The last company I worked for was bought. We all knew our jobs were in danger because the new headquarters was now in Phoenix (were were in Los Angeles) and they already had people there who were doing our jobs. I thought about jumping ship, but was glad I didn't because once I was let go, I got a severance package. Within a year of us being bought, the Los Angeles office closed and none of us work for the company anymore.

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Don't quit. But start looking for another job immediately. It's always easier to get a new job if you have one now. Keep the resume updated and the feelers out. Network, network, network. Best scenario, you keep your job, and you don't have to take any offer you get. (I kept working through 4 takeovers, finally took a voluntary layoff to retire after the 5th.)

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i'm in a similar situation. i have been working for the same employer for over 5 years. when i was hired on they promised the chance to earn quarterly bonus's and chances for education and advancement. all my requests for more training have been denied. i have gotten two raises that total less than 3% (one was 1.2% the other one 1.5%) so i don't even consider myself to have gotten one. we had 3 guys onsite, but they got rid of our site lead. i got shouldered with his title and his responsibility but was not give a raise or official promotion. now they are trying to force the second guy to take a pay cut, and if he doesn't they will fire him. today is his last day to accept, and he won't which means he'll most likely be let go today. that means i'll be doing the job of 3 people, have to come in earlier and stay later, and get no compensation for it. i will most likely just stop showing up next week. its a stressful scary time. good luck

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@ndcouch: in all fairness, many people have taken pay CUTS over the last 5 years, so a 3% raise isn't as poor as you might imagine.

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In my life I have been laid off twice and quit once due to the same reasons you stated. Try to hang in there, who knows, they new eyes may see something in you the old ones didn't and promote you.

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@lumpthar: I'm confused by your answer. I see that you want your wife to quit because you think her job isn't safe & the new company wouldn't be fun to work for. What does your wife think?

Also, isn't it easier to get unemployment if you are let go than if you quit?

In general (and after a 2.5 year job search to get my current job) I suggest job hunting while working rather than quitting. Work on upping your savings and minimizing spending so you're a bit more prepared if you're let go, but quitting without a job in place isn't a great idea in this economy!

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@kamikazeken: true, and that alone wouldn't keep me from leaving. but they keep cutting support and come monday i'll be expected to do the job of 3 people, with no raise. someone also let it slip that the next move would be to cut salried employees paychecks too (which would include me). we onsite have felt abused and over worked for 5 years and i refuse to keep taking on more responsibilities knowing i wont ever get a raise, and i'll most likely have my salary cut next. no reason to stick around at that point.

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I have read that a lot of businesses are including "Unemployed need not apply" in their job postings. They aren't considering hiring anyone who isn't already employed. So quitting early could close doors for you.
http://www.nytimes.com/2011/07/26/business/help-wanted-ads-exclude-the-long-term-jobless.html

"Most job seekers are already cognizant of the fact that unemployed applicants are often at a disadvantage. But the National Employment Law Project, a nonprofit organization surveying the labor market, scoured through listings at job sites CareerBuilder, Monster, Craigslist and Indeed, and found 150 ads requiring applicants to be currently or recently employed. The practice of overtly excluding unemployed applicants has apparently become so widespread that New Jersey recently passed a law to prohibit employers from excluding unemployed candidates in the application process." PBS

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I've been in a company that was public, went private, purchased by a public, sold to a Venture Capital, and sold back to a public again... Sometimes it's just changes in management, and sometimes it's for the better:

when we were purchased by VC, we were able to acquire companies that would have made our "public" books look bad to share holders for a quarter, but the VC people saw the value in the technology investment. We came out a lot larger and stronger.

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@wootfast: Wow! I've been invoked AND pimped out! Best things that have happened to me in MONTHS!

@macoland: I have to go along with what most folks have said here and suggest that, unless you are independently wealthy or able to subsist off leftovers in your parents' basement, you should hang tight to the job you have while searching for another one. I've been doing this, myself, and it's truly miserable, but not unbearable (mostly). I make nice and polite when dealing with the folks running what DH calls a "hostile takeover" of my office, but I am making my own plans in the meantime. (And, truth be told, I'm taking names and gathering info just in case...). The need to earn money is a necessary evil for 99% of us, and the day might come when you will need to use your current employer as a reference, so do your best to stick it out and shine. And, as @kingu posted, this might actually open up some opportunities in your current company.

continued........

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You haven't really indicated that the new management is expected to be evil or difficult, or if they are planning to downsize your company further. Change isn't always bad, and it appears that you don't yet have enough information to determine how things are going to turn out, which is another reason to stay on for a while. However, I know firsthand the stress of covering the work of vacant positions. If this becomes an issue, do as much as you can but be honest with your boss when you feel you are approaching your limit. Don't ruin your health (mental or otherwise) by staying there if it gets too stressful. Although I don't make decisions on behalf of Unemployment Insurance, I have found that they do not tend to disallow benefits if an employee resigns (despite rumors to the contrary), and rarely do so even if the employee is fired for cause. They do, however, deny benefits if the resignation is for health reasons. You have to be physically ABLE to work to draw Unemployment Insurance.

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Oops! One more note!

@wootfast commented: "... also i'm offering belyndag's services as your HR rep whenever you start your own business."

Don't forget that part! I should be available in a couple of months! Start your own business and leave them in the dust! Success is, after all, the best revenge!

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@macoland: If you DO decide to go for a change of scenery, wait. Keep this job until you find a definite replacement.

Only hiring the employed has been trending upward - a lot employers are starting to only hire people who already have jobs (Genius right?).

It does make some sense, but there's still something about it that doesn't seem right.

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Is indecision bugging you? If they don't respect you let yourself free. Exactly who are you supposed to be? Do you work clothes even fit you? Only you can let you know, should you stay or should you go.

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I went through a similar thing in the beginning of this year: http://deals.woot.com/questions/details/f89aa447-450b-4dc9-b617-24071c101b2b/have-you-experienced-a-company-merger#14

As timed progresses, we realize more and more it was a buy out. There were some definite bonuses, but a lot of stuff has changed for the worst.

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the company i currently work for also went through this last year. we were public and got bought up by an investment company. i'd just joined the year before and so far the only difference i've felt since the buyout is that the few stock shares i had were forcefully cashed out to me and i made $20 or so in short term gains. at the time there were so many rumors floating around including if we were all getting fired. our company is a medium sized IT services contracting company that likes to think of themselves as personable and connected to clients due to the medium size. and investment companies are known for being faceless, cold, bottom-line type of folks

luckily the investment company told us they weren't interested in making drastic or unnecessary changes. they didn't come in and fire everyone just to put their people in the roles or show who's boss. they told us to do what we normally do, and we have. from what i hear, they will "hold us" for a few years then sell us off for more

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Yep. If you're asking, just do it, and move on.

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@ndcouch: I agree, if they cut positions and then are cutting your wage, time to go. If there were non pay perks that were worth keeping, that would be something to consider.

My friend was in a similar position, he was a supervisor with 4 others, they chopped out the 4 others and left him do all the work himself. He couldn't get it done, he was only one person. They threatened to fire him. He walked out the door.

management called him back two weeks later, pay raise and promised him a helper at the least.

If you walk, walk away quickly. (well, as quick as your next job gets lined up)