Comment by geye1234
20 hours ago
> management said if any layoffs will happen in 3 years period after this, same package will be offered no question asked.
And people believed them?!
20 hours ago
> management said if any layoffs will happen in 3 years period after this, same package will be offered no question asked.
And people believed them?!
Why not? People believe the FDIC has enough money to prevent any bank runs from wiping and cash on hand. Very few check the tape, especially if they're in the middle of a fear or panic reaction and an authority claims its fine.
Failing to live up to a business promise runs afoul of promissory estoppel: https://www.investopedia.com/terms/p/promissory_estoppel.asp
There is plenty of room for uncertainty where promissory estoppel and right-to-work laws intersect.
If this claim was in writing then it's legally binding in most U.S. states. Technically it's legally binding even if it's not written but in those cases it's harder to prove.
Right? When management demonstrates their inability to plan for repercussions, how am I to believe a pinky promise covering the next three years?
> And people believed them?!
Probably because they could sue them for not keeping their word.
It was more than 3 years ago, but as far as I know, they did honor the agreement. Some people took early retirement packages closer to the end of that three-year period and they got the same deal.