When your company is taken over your employment rights are protected under the ‘TUPE’ regulations. Your existing employment terms and conditions stay the same. Your new employer cannot force you to accept a lower salary or other changes to your terms and conditions. Provided you’ve been employed for at least two years, you are protected against unfair dismissal.
There are circumstances where the new employer might be entitled to make you redundant as part of a reorganisation — but not just because of the takeover. Sometimes employees will be asked to reapply for their jobs as part of the process of choosing which employees should be made redundant.
It’s not uncommon for employees to be unfairly dismissed when a company is taken over. You should take legal advice on your particular circumstances.