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Bummer, they have to follow procedure and issue letters to everyone.
Hopefully your position may be safe, they have to have to talk to you and say why. Then you can put up any reasons that might help you stay in your position, like working less hours, cutting overtime, anything that will save money. Then they have further talks and advise you what they are going to do.
The letter will go out to all that might be at risk.
No takeovers on the cards.
If there are TUPE will apply. and the new owners have to take you on, under the same conditions as your current Contract of Employment.
Hope it all works out OK. Worrying times.
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