Paid to quit - The experience of being bought out of employment

Abstract

The purpose of this report is to explore employee buyouts from the employee’s point of view and further the aim is to describe and explain former employee’s experience of going through a buyout process. The theory of the psychological contract paired with theories on role exit and resistance were used to analyse and understand the empirical evidence. In addition the sociology of accounts were deployed to understand and order the given accounts in a framework. To conduct the research a qualitative approach was used. To gather the empirical evidence 15 semi structured interviews were conducted with individuals who had undergone a buyout process. The findings are presented in three parts abiding to a chronological order, where first the major reasons for employees to go from wanted to undesirable are presented: resistance, harassment and bullying, leadership and working conditions. Secondly the features of the employment buyout process are described: sick leaves, reassignments, negotiations and the settlement. Thirdly the effects of going through a buyout process are presented, first job status and then effects on identity followed by social and financial effects and finally effects on mental and physical health. In conclusion employment buyouts are complex processes that have severe effects on the well-being on the individuals involved.