More media coverage.. Not good...
Massive layoffs from the Schwab-TD Ameritrade merger have snared many former employees in non-compete agreements hindering their ability to find jobs in...
https://riabiz.com/a/2020/12/11/schwab-td-ameritrade-merger-layoffs-leave-many-ex-staffers-shackled-with-non-compete-agreements-hindering-job-search-amid-covid-19-pandemic
MDs are grade 60. It is not true that all of them got one year of salary. It depends on the number of years of service, which is basically 10 days of pay for every one year of service, up to a maximum of 200 days. Thats a max cash payout of 10 months, plus mandatory 2 months while you remain on payroll after notification.
You might be thinking of officer level VP and above.
Cry me a f*cking river. Most of these MD and highly compensated individuals received a year’s worth of salary and stock options, plus are eligible for a lengthy round of unemployment benefits. God forbid they might have to downgrade from a Land Rover to a Suburban. Deal with it.
Non competes are pretty worthless when it comes to an employee situation. A judge cam throw it out as an employee cant be denied the right to earn a living! But since judges dont care about much these days other than their politics and how things look similar to how they turn a blind eye to fraud and rigged elections - you probably also wont have much chance if politics creep in here as well!
So, good luck in this new era of political driven justice!
Got to love the logic of a non-compete. You're not valuable enough to us to bother keeping around but you are valuable enough that we can't have you working for anyone else.