Ok, so what are we not allowed to do in order to hold onto severance? Work for Schwab or its affiliates? I read the sev agreement several times but am not 100% on this. Hopefully I can still work for a vendor that serves Schwab
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this is messed up.. I also did not see anything about having to pay back severance AFTER the termination date. I thought the ideas was that you had to let the company know and sign whatever paperwork if it happened during the notice period. Can others weigh in here? I will read again, but did not see anything like this.
- OH SH-T.. you said if I work for Schwab or affiliates... this does not relate to non-Schwab yes? As if I would want to go back there ROFL
Non-competes don’t hold up in California - it’s illegal. An employer can threaten you as much as they want - just laugh it off and keep it moving’ they can’t touch in Cali
In California, it's illegal to enforce non-compete agreements that put limits on an employee's future job prospects. According to California Business and Professions Code Section 16600, any contract that restricts an individual from “engaging in a lawful profession, trade, or business” is null and void.
i don't remember signing any non-compete agreements... did I? :///
Just get the job then worry about all of that. Ultimately you can’t be prevented from making a living.
just don't go back to Schwab or affiliates like Schwab Bank. it's cr-ppy they make people pay it back if they go back to Schwab after the mental sh*t they put laid off people through. also those laid off shouldn't get back on the sinking ship.
Here's my take on it, take it for what it is, not an expert here. You can work wherever you want as long as you don't break the non-compete and other agreements. However, and this one really pi---d me off, if your severance payout is 4 months (88 days) and you begin working for CS or affiliates before that 4-month period ended, you will need to repay a portion of the severance. Let's say your Termination Date was 01/05 and you start to work for CS on 03/06 you will keep only 2 months of the severance and will be asked to repay the rest. That's what I read from the agreement. But again, I haven't walked down that road, hopefully I never will. Does that make sense?