Question - Should you work for a company that filed Chapter 11

[coffeysm]

I don't know if this is the appropriate forum. But, I was wondering some opinions from people. I have been offered a position with Silicon Graphics, but found out they filed for Chapter 11 Bankruptcy back in May. I was wondering if anyone had any thoughts on this?

 

[SQLSister]

Some companies come out of bankruptcy and continue to operate, most do not. I would be wary unless I could find some news stories concering their rebounding from the bankruptcy and even then I might be wary. Of course, if you currently have no job, then even a short term position is better than nothing. But if I had a job, I probably wouldn't take this one.

Questions about posting. See faq183-874

 

[chiph]

Go ahead and work there if you want to. Having SGI on your resume has a lot of "geek cred." I even have a couple of their shirts that I bought over the internet. (1)

Just don't make any major purchases or outside long-term commitments. Make sure you have the usual 6 months of "f-you" money in the bank.



(1) One area where they could improve their cash-flow in is their online store payment processing. I waited 4 months for my purchase to show up on the credit-card statement, tried calling them, and eventually gave up.


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If you want to get the best response to a question, please read FAQ222-2244 first

 

[strongm]

Crikey, they still in Chapter 11? I thought they were supposed to have emerged from it in mid-October

 

[paterson]

If you need quick money, why not. I would seriously NOT think of a long time career there.

The flip side is that sometimes bankruptcy companies get bought by larger companies. In the fall out, there may be "packages" given out to employees.


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My Biggest problem is that I almost always believe what I tell myself.

 

[kHz]

SGI has been in perpetual turmoil since the mid-90's and have had a few layoffs of personnel. They emerged from Chapter 11 in September/October 2006 after filing in May 2006. They are also trying to realign their market strategy.

Some companies emerge stronger from bankruptcy and more profitable. Others emerge only to fall into bankruptcy later. Some succeed. Some fail.

Only time will tell with SGI. It really depends on the leadership of the company.