Yes, the new owner can make you re-apply for your jobs and make you go through an interview process. They can eliminate those they feel are not up to their standards and set the salaries to whatever their expectation is. You need to figure out what the new owners are looking for or what they are looking to do. Welcome to the modern business world we all have created. (I am in a similar situation as I was laid off a few months back and hard to start over after 15 years and benefits)