As many employees leave due to layoffs or leave voluntarily, I’m hearing of Wells suing former employees to enforce the non-compete. I have an opportunity to join a competitor but am concerned that Wells may sue me too. Has anyone that’s left been sued or threatened by Wells? Any advice or tactics you used to lessen the chance of being sued? I can’t afford a lawsuit against a major bank but also don’t want to stay in this sinking ship.
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Talk about disgusting. Wells can't have it both ways -- desperately wants employees to quit, but then tries to punish them for leaving and getting jobs in the financial services sector (competitor or otherwise).
Pathetic c-ap. Which is exactly what the company is.
Why is Wells still in business? They don't give a sh*t about customers, employees, ethics or the law.
Wells is losing our cases on its non-solicitation agreement. Two cases this year in Philadelphia and one that made it to N.C. Supreme Court resulted in Wells losing.
Every employee is subject to a non solicitation restriction against soliciting any WF customer or employee - even if you didn’t sign one. All employees received restricted stock last year or as part of your annual compensation. When you agreed to accept the restricted stock, you agreed to not solicit any business or employees. There’s no time limit, geographic limitation or limitation just your personal customers. This means if you join a competitor and you talk with a WF customer ( even if you don’t know they are a WF customer) Wells can sue you for solicitation.
Wells isn’t a ethical company and doesn’t really care what the non solicitation agreement says. Their attorneys sue knowing you can’t afford a couple hundred thousand in legal fees.
Make sure and get copies of all of your agreements before you resign or get a lay-off notice. Meet with an attorney so you know you options. Spread the word to other employees so they don’t fall victim to this unethical and corrupt bank.
https://www.citizensadvice.org.uk/work/leaving-a-job/resigning/if-your-employer-says-you-cant-work-for-a-competitor/
If you don’t have a written contract
It’s very hard for your employer to claim a spoken agreement includes a restriction on who you can work for. These restrictions have to be precise and specific, so it’s unlikely you’ll need to follow one that isn’t written down.
Dont update your LinkedIn profile or tell former WF employees you're working at a new job.
One suggestion would be to NOT post anything derogatory about your former employer. And, make sure you understand the terms of your separation agreement.