Re:FTC announces rule banning noncompetes
by zippothrowaway on Tuesday April 23, 2024 @09:38PM
(#40139471)
Or the employee agreement you sign includes a notice period of 6 months from either side.
I think you're right that negotiated gardening leave will happen but I can also see companies baking in the gardening leave at the start of employment (so no longer at will) as being cheaper.
Re:FTC announces rule banning noncompetes
by davidgay on Tuesday April 23, 2024 @09:52PM
(#40139560)
> Or the employee agreement you sign includes a notice period of 6 months from either side.
Those are illegal in at-will states.
Re:FTC announces rule banning noncompetes
by andthenzen on Tuesday April 23, 2024 @10:29PM
(#40139803)
Source? My understanding is that at-will states have a default presumption of at-will employment in the absence of a contract, but parties are free to contract alternatively. Which states invalidate mutually agreed upon notice periods?
Re:FTC announces rule banning noncompetes
by davidgay on Wednesday April 24, 2024 @12:41AM
(#40140659)
You are right and my memory was faulty:(
Re:FTC announces rule banning noncompetes
by yladiz on Wednesday April 24, 2024 @03:35AM
(#40141697)
It’s not illegal, but from what I understand an excessively long notice period would very likely be shot down by the courts. There are a lot of arguments to be made here (for example, what’s stopping an employer from putting a 5 year notice period from day 1 if they can put an arbitrary one?). I imagine if companies do increase it or introduce one in general, it would be closer to 1 month, maybe 2, not 6.
Re:FTC announces rule banning noncompetes
by mlrtime on Wednesday April 24, 2024 @07:48AM
(#40143211)
They are not illegal, and even if there is a grey area good luck defending.
I worked at a hedge fund in NYC. I gave my 2 week notice. HR said that the employee contract that I signed when I joined stated a minimum of a 4 month notice period. This would have completely killed my next job which I already accepted.
I should have known this was in the employee agreement, but I didn't know they they would threaten lawyers on me if I didn't stay 3 months.
It's less "end of at-will" and more "if you want effective non-competes, it's going to cost you".