I worked for a company that was purchased by an individual ( large company is what he bought).
First thing he did was take our pensions, second was our thrift and savings pre 401K, legally.  I thank Bonzo co-star, oh he also took benefits away from veterans.  So I have a hard time with the "promise", it sure meant nothing when it came to myself and other companies who met the same fate.  Oh when he gotten as much out of the company, sold us, made a killing, only think he sold us to a company that filed for bankruptcy,  we got luck was purchased again.