The company that I work for used to be a division within a multi-national company, but was recently spun off and sold to a private equity fund. To save costs, the new owner decides to convert all employees located in countries outside of the HQ to an Employer of Record arrangement, instead of setting up legal entities worldwide to have direct employment contracts with us.
I haven’t signed the new contract as I’m nervous about the risks and the rights that I will lose. Can anyone please help me understand what the risks are? Would I still be able to sue the company in case of mistreatment or wrongful dismissal in the future? Would I be considered as a contractor now? What can I do to protect my rights? Appreciate your help!!