Wales has had a good experience when it comes to worker buyouts
, the legendary takeover of Tower Colliery by Tyrone O'Sullivan and his team a particularly good example.
In fact it means a range of potential providers, including co-operatives and social enterprises as well as private providers, worker buyouts
and voluntary sector agencies.
From 1989 to early 1990, the strategy of spontaneous nomenklatura (Communist Party managers) or worker buyouts predominated in Hungary and Poland.
Clearly, the spontaneous privatization techniques of nomenklatura and worker buyouts have opposing effects on the transition to and the consolidation of democratic regimes.
These developments presented a natural research lab for the authors to investigate (1) the efficacy of saving jobs through worker buyouts and labor-management concessions and (2) the effects of two different organizational processess-employee ownership and worker participation--on individual and organizational outcomes.
The authors add that worker buyout and participation mechanisms in themselves are not a guarantee of success.