Well it was announced shortly after the new year that my company was being sold. Up until now, all has been fairly OK, no big changes or anything. Then yesterday, the announcement came....
"Houghton Mifflin Co. said Monday that it has an agreement to buy Orlando-based textbook publisher Harcourt Education and two other units of British-based Reed Elsevier PLC in a deal valued at $4 billion.
Houghton had little to say about how the sale would affect the Harcourt operation, which has more than 1,100 local workers. The deal is expected to close later this year or early next.
Harcourt Education publishes books and educational materials used by primary and secondary schools. Houghton is also in that business and has been one of Harcourt's primary competitors.
"At this time, we have no plans to change the locations of our divisions," Houghton President and Chief Executive Officer Tony Lucki said. "But as a part of our longer-term planning, we will be considering the match between our overall business and our various locations in detail."
Reed Elsevier put Harcourt Education on the market in February, saying at the time that falling sales and profits in the division were eroding gains from its LexisNexis database division and its Elsevier business.
In addition to Harcourt Education, the sale announced Monday would include Reed's Harcourt Trade, which publishes literature and reference titles, and Greenwood-Heinemann, a publisher of titles for school-age children.
Lucki, who was once CEO of Harcourt Education, said no decision has made about staffing or name changes that might follow the combination of the two businesses.
"We really have not decided on what happens with the name," Lucki said. "We are aware that both names are clearly recognized in the marketplace and certainly would take that into account."
The transaction would include $3.7 billion in cash and $300 million in common stock of Houghton Mifflin Riverdeep Group PLC, Boston-based Houghton's parent company."
So, after almost 8 years with the same company, I have no idea what lies ahead. I'm excited about the sale, as I HATE the changes that were made once Reed Elsevier bought us, but I'm scared at the same time. I can't afford to be without a job. I don't want to give up all my years of service here. I don't want to have to look for a new job now. So much uncertainty, so much to worry about, but I can't let myself do that. I just have to sit back and wait to see what happens. If God brings you to it, he will bring you through it.
