This is weeks before about 1/10 of company (~50 ppl) receives sizeable retention bonuses for staying around a year after acquisition. Any idea what the implications are? Thinking it's that if they decide to fire us all it limits our ability to go after them for wrongful termination, but is there another angle i'm not seeing?
Horrible. Don't give in. Resist as much as you can and resist together
I thought it was getting pretty common recently among employers. Maybe it is a policy for all new hires at a company that acquired you, could you check? Also layoff is the easiest way to avoid “wrongful termination” lawsuit if you are in California. I don’t think if they were planning a layoff this agreement would matter.
Fuck that horseshit. Quit! Now
They can’t just give you a new contract to sign without anything in return. It’s called consideration and without it it’s not really a new contract that can hold up.
So they're calling it a revision to our at-will employee agreement. So it doesn't mention compensation or anything. It has our non-compete and our agreement to return any technology when we leave the company and things like that. Do you think the same rules would still apply about consideration?
They can’t make a contract strictly worse without anything for you. It could be as simple as $1 but they need to give you something. Given lawyers drafted it, it’s probably there, see what it is.
Tell them you want to take a look at it and talk to a lawyer first. That will be a good warning shot. How much time do you have?
Run for the hills!
Is this Cisco acquisition related ? DM me directly I can walk you through the shit that happens once you sign such bullshit. Educate everybody and I hope they don’t sign.
What’s the consequence if you don’t sign it?
You're fired. It's non negotiable.
I’m not a lawyer, but wouldn’t that be wrongful termination?