Elizabethtown, Kentucky-based Venminder, a software company providing a platform to manage end-to-end vendor lifecycles and recently acquired by Brentwood, Tennessee-based Ncontracts, has announced a post-acquisition reduction in force.
The reduction in force will impact 100 employees.
According to a company statement, "Ncontracts recently announced the acquisition of Venminder. Due to redundancies in positions of employment as a result of the transaction, Venminder anticipates a permanent layoff of approximately 100 employees who work in or report to the facility."
"Ncontracts is currently in the process of reviewing potentially redundant positions with the aim of preserving as many positions as possible. In the meantime, all potentially affected employees have been notified of their expected separation dates and that their separation from employment is expected to be permanent. We are committed to making this transition as smooth as possible and have carefully created a separation package to support these transitions."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?