QUESTION
My company (publically traded, 30k ees) was acquired by a Missouri company
Asked on Aug 10th, 2016 on Employment Contracts - California
More details to this question:
I was supposedly protected under a change in control severance plan that if I had "good reason" (dimished responsibilities) I would get my severance (6 figures). I sent my good reason letter and they informed me that I don't have good reason now, but will have in January 2017. This is totally bs. My job has significantly dimished from my old Jjob description. They want me to hang on to do integration work. Do I have any legal rights?
1 ANSWER
You are not bound to accept your new employer's interpretation of what "good reason" means, and can sue to enforce your rights. However, if you do so, you risk losing, and not getting anything, instead of the settlement proposed by your employer, i.e. to work until January, 2017 and then to leave and collect your severance package.
Answered on Aug 11th, 2016 at 10:09 AM