They demand a Non-disclosure Agreement. It is a will not sue agreement. It is extreme. If you sue and win, you agree to pay them the proceeds. CVS loves the Union Busters at Jackson Lewis.
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There was not a no compete clause in last year’s paperwork. They laid you off you’re pretty much free to go work whenever you want. I’ve always been told don’t ask don’t tell.
The FTC banned non-compete clauses for most types of employees last year. Enforcement has been blocked pending an appeal, but based on the outcome of different lawsuits before the FTC ban, it doesn’t seem like judges are very keen on non-competes. With this being a mass layoff situation, and with the state of the company’s financial situation and quiet honestly, much bigger legal issues to worry about, unless you’re currently in a role that gives you competitive intel that would impact the stock price if it got out (because remember, all of this is happening because of the stock price) I don’t see them coming after people who have been laid off. But, if your severance is long enough to be worthwhile, it might also be worthwhile to invest in the advice of an employment attorney before signing any agreements. However you approach it, if you have concerns don’t rely solely on guidance from CVS HR.
Non-Compete's are illegal in California.
Covenant? Like a witch’s covenant?
Need to sign and return both the severance agreement AND the restrictive covenance agreement (i.e, the non-compete) after the separation date in order to receive the severance pay.
Not sure. Aren't we supposed to not sign the agreement until our separation date, which for my case is in future (also called the notice period)?