September 30, 2023

You’re the Boss: What Do You Owe Your Employees When You Sell?

Paul Spiegelman: Brandon Thibodeaux for The New York TimesPaul Spiegelman: “I began to get nervous.”
Today's Questions

In a small-business conversation we’ve just published, Paul Spiegelman talks about how he came very close to selling a controlling interest in his company, Beryl, an unusual call center based near Dallas. “I began to get nervous,” Mr. Spiegelman told Darren Dahl. “I felt like if we went down this road, it would have an irreversible negative impact on Beryl’s culture.”

So, here’s the question: When business owners contemplate selling all or part of their companies, what responsibility do they owe their employees? How do you balance finding an exit strategy with assuring a positive work environment will be maintained after the sale?

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