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Hi guys
Newbie here wanting some advice on a situation I am currently in. Some months ago I was approached by a head hunter on Linkedin regarding an MD role, all sounded really promising, growing business, PE backed, chance to join the next earn out in 12 months, further potential career advancement etc. The usual I would expect. During the process I went through which was rigorous given the seniority of the role I was asked to provide a presentation of how I would reshape the current organisation using improved processes, improved technology and org design. This is something I have down for 20 years so very familiar with it
I did well at interview and was offered the job. During the process I asked some very specific questions on the performance of the business unit, in terms of growth, revenue, margins etc. I was told it was a growing business, circa 20% plus margins and doing really well, it juts needed someone from a corporate background to reshape it, all good . . .
On my first day I was greeted with a mass redundancy situation to kick off and lead, I was livid, it was nowhere near where they said it was, it was actually diometrically opposed ! 33% behind budget. It now transpires that they have known about this slide for 10 months and were in the thick of it whilst I was being interviewed and working my notice at my old employer. they new full well the business unit I was taking over was in distress and they lied, not just withheld information about its performance
My salary at the new job was significantly better than my old job but I have given up share options etc. to move, this was a step up role from my previous job, but I have worked at this level before
My question and apologies for the long winded first post, is do I have any recourse here against them in terms of legal action, or do I just take it on the chin and either battle through it, or look to oveo on elsewhere ?
Any advice would be appreciated !
Newbie here wanting some advice on a situation I am currently in. Some months ago I was approached by a head hunter on Linkedin regarding an MD role, all sounded really promising, growing business, PE backed, chance to join the next earn out in 12 months, further potential career advancement etc. The usual I would expect. During the process I went through which was rigorous given the seniority of the role I was asked to provide a presentation of how I would reshape the current organisation using improved processes, improved technology and org design. This is something I have down for 20 years so very familiar with it
I did well at interview and was offered the job. During the process I asked some very specific questions on the performance of the business unit, in terms of growth, revenue, margins etc. I was told it was a growing business, circa 20% plus margins and doing really well, it juts needed someone from a corporate background to reshape it, all good . . .
On my first day I was greeted with a mass redundancy situation to kick off and lead, I was livid, it was nowhere near where they said it was, it was actually diometrically opposed ! 33% behind budget. It now transpires that they have known about this slide for 10 months and were in the thick of it whilst I was being interviewed and working my notice at my old employer. they new full well the business unit I was taking over was in distress and they lied, not just withheld information about its performance
My salary at the new job was significantly better than my old job but I have given up share options etc. to move, this was a step up role from my previous job, but I have worked at this level before
My question and apologies for the long winded first post, is do I have any recourse here against them in terms of legal action, or do I just take it on the chin and either battle through it, or look to oveo on elsewhere ?
Any advice would be appreciated !
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