Posted on 10/22/2015 7:08:16 PM PDT by Lorianne
SunTrust Banks in Atlanta is laying off about 100 IT employees as it moves work offshore. But this layoff is unusual for what the employer is asking of its soon-to-be displaced workers: SunTrust's severance agreement requires terminated employees to remain available for two years to provide help if needed, including in-person assistance, and to do so without compensation.
Many of the affected IT employees, who are now training their replacements, have years of experience and provide the highest levels of technical support. The proof of their ability may be in the severance requirement, which gives the bank a way to tap their expertise long after their departure.
The bank's severance deal includes a "continuing cooperation" clause for a period of two years, where the employee agrees to "make myself reasonably available" to SunTrust "regarding matters in which I have been involved in the course of my employment with SunTrust and/or about which I have knowledge as a result of my employment at SunTrust."
The employees were informed of their layoff at the end of September, and the last day of work for some is Nov. 1. This is according to several of the affected employees, who requested anonymity for fear of retaliation.
(Excerpt) Read more at computerworld.com ...
People don’t understand how much money the U.S. Gov lets employers keep if they are foreign. IN fact the only reason there is a single foreign worker in this country is the cost of paying an American vs a foreigner. I forgot just how much ocare will cost.. Guess that’s why companies are pushing for more visas now. Ocare hits it’s high note next year.
That number of weeks is also the number of weeks they won’t be able to collect unemployment.
> I would take the severance, and then change my phone number.
Why change your phone number? Whenever they ask, just say you’re unavailable. Pretty simple it seems to me.
I sure as hell wouldn’t trust this bank to handle my money.
Because quite frankly if I were being offered a severance package such as this, I wouldn’t want to hear from them. The severance agreement, from what little we know about it, states something to the affect that one must make themselves available to them, for 2 years. It doesn’t state that availability as having to be an easy endeavor.
Fairly standard. If a company is being taken over, there are sometimes additional incentives to stay to a certain date to assist in the transition.
That’s how the company is trying to spin it, but it is broader than the usual executive level legal cooperation clause. It is poorly drafted it that was the intention.
What % of the laid off workers are white?
What % of the replacement workers are non-white?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.