Last place I worked had a mass exodus in the year following being bought out by a larger company. I got hired on right after the acquisition took place, but interviewed before hand. So once they told me I was hired it was another two months before I started because they had to find out new company policy etc.
After working there 3 years, out of the 20 non-management people in the office I was third in line for longest tenure. Management was hanging out just to suck up any money they could before being let go, and did little else. The GM of the entire place started there as a Manfacturing Engineer after I was there for two years and after implementing absolutely nothing (he was the first person in this new position) he somehow got promoted to GM. Cowboy boots, a suit, and F-bombs every other spoken word lol. Engineering was understaffed before the exodus, and they only hired on two guys after we lost six. Instead, they hired more girls up front to answer phones and direct calls back to engineering lol.
I got promoted in May of 08, one of the few they offered in engineering. They gave me a $5,000 raise on my salary, which got cut down at the end of 08 to basically $2,000 more (a year) than I was making in my old position with several times the workload and responsibilities. Never got a single review other than a self-evaluations the dept. manager gave me to fill out and never heard another word on it. I had gotten numerous letters sent to the dept. manager and GM from customers who were very appreciative of my help. In December 2009, I got a job contract for a $850k job, the five sales managers and all their distributors who all made 3-4 times as much as I did brought in $350k for the month. My reward? The GM demanded I move to Europe for 1-2 years, no pay raise or anything. They would get me an apartment and $20 a day for food lol. Considering the cost of living is higher, the dollar was worth shite, and I couldn't exactly drop everything here on short notice, I told them I couldn't do it. So I was told that would be my last day there, December 23rd - merry xmas. They didn't have me sign anything even though I asked several times, and I find out a couple months later they officially recorded it as I quit. Fun times.
Morale of the story: Get out!!!