#noncompete

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Applying for jobs at competitors after being laid off

Hi,
Was laid off in the last round (why do I always type layed?).

The job market as many know isn’t great, even willing to relocate it’s still tough out there.

So in the spirit of considering all my options, what have people seen as “Nike actually paid attention and enforced” regarding going to work for competitors?

No I’m not a reporter or a troll or any of that nonsense, just a person trying to provide for their family and while the severance and savings gives me some time… I would sleep a lot better being back working and moving forward. Not one to “take a break” or sit around and hope for the best, not with the responsibility of a family.

Thank you


Custodians Won't Hire

I've been turned away by 4 RIAs for jobs that I am well qualified and experienced in. Jobs they are hiring for, and Schwab does not have postings for. Each of them says "since we custody with Schwab, we have agreements signed that we cant hire employees until you've terminated for 18 months."

I'm not bringing clients with me. This feels contrary to FTCs 2024 non-compete appetite. And the position doesn't exist at schwab anyway.

Feeling stuck.


Suppose you make it to 55

Suppose you make it to early retirement at 55 and still want to work elsewhere. Doesn’t the company have stipulations around not working for competitors after retirement? And aren’t there some big threats tied to that….like lost pension, lost unvested RSUs, etc? How does that actually play out? …has the company ever pursued some sort of benefit cut tied to this?


Billion dollar brokers? Ha!

Every so often I read a press release put out by some competitor that hired away one of our WMAs. They try to puff themselves up by saying “Stiffo Nickelback adds Billion dollar TIAA broker…”. What a joke. As if that advisor is going to bring over every account they ever touched. The truth is that the vast majority of those accounts barely know the name of the advisor without looking at their paperwork. The joke is on Stiffo Nickelback when that advisor’s non-compete is over and they can’t lure more than a few accounts because they really didn’t have any real wealth management relationship with the client beyond the initial sale. I’ve seen several articles in the past with different shops bragging about bringing over some “big hitter” advisor from TIAA. There is a huge difference between the quality of relationships for a wirehouse broker with a legit billion dollar book and a TIAA advisor who has 1200 accounts assigned to them and their assistant WMA. I enjoy knowing that these ex-WMAs who over sell themselves will be cut down to size when they can’t deliver


Non Compete

Can anyone direct me on where to confirm in WorkDay / HR Central if I have a non-compete in place? I recall year over year attesting to one under Express Scripts; however since moving under Evernorth a few years ago, I don’t recall signing / attesting to one and cannot find anything in Workday.


Non-Compete and Severance Clauses

For those that are impacted by the reduction in force, please check or have someone go over the severance agreement to see if there's a timeframe set for a non-compete clause. This would include verbiage regarding a timeframe of which you may be illegible for employment by a similar company offering a similar or slightly different role. While some states do have limitations on this, please exercise due diligence.

Example: You may be barred from working in a telecom or similar company for a period of six months before they would consider hiring you. You would go through the whole interview process, but then get hung up during the final selection due to this.


Silver lining for VSP folks that are RIF’d

I know many of you are kicking yourselves for not taking the VSP package but I want to share some positives of not taking it and getting RIF’d (assuming you get the max 35 weeks)

  • had you taken it last year and had a last day of September, your insurance would now be running out at the end of this month. Instead, you have it through the end of this year and for another 7 months
  • your severance pay will likely hit in 2026 making the tax impact much much smaller
  • you don’t have a non compete and are can be rehired at Verizon. VSPers can never be employed by VZ or a subsidiary again
  • instead of 60 weeks of pay, you essentially got 100 (granite you had to work for 65 of them. But that’s still more money in your packet than if you took the VSP)

Just wanted to provide a more positive outlook on this crummy situation. Best of luck to everyone.


does this mean i can't get another job at a company that is looking for a dba?

i understand stuff like code or stuff not published. but how about working for a ct with a
support contract that my name would be on?

Your employment with Oracle created obligations on your behalf with respect to certain
confidential, proprietary and trade secret information belonging to Oracle (“Proprietary
Information”) as reflected in the Proprietary Information Agreement (“PIA”) that you signed as
a condition of joining Oracle.
• By signing the PIA, you promised not to use Proprietary Information for any
purpose following your Oracle employment.
• You acknowledge that by signing the PIA, you are prohibited from recruiting Oracle
employees for employment with any employer other than Oracle for a specified
period of time following the termination of your Oracle employment. The
foregoing contractual prohibition will not apply to you if you reside or work in
California or any other jurisdiction that prohibits such a term; however you
understand that this exclusion from the scope of the contractual obligation in this
paragraph does not authorize conduct that is a misappropriation of Proprietary
Information, unfair competition or other wrongful act.
• You acknowledge that, if you signed the PIA on or after June 1, 1996, you are
expressly prohibited, for a specified period of time following the termination of your
employment, for your own account or for the account of any other person or entity,
from soliciting, calling on or providing services similar to those which you provided
to customers or clients of Oracle during your employment, for any of Oracle's
customers or clients or prospective customers or clients if you solicited, called on or
performed services for that Oracle customer or client or prospective customer or
client for a specified period of time preceding your termination. The foregoing
contractual prohibition will not apply to you if you reside or work in California or any
other jurisdiction that prohibits such a term; however you understand that this
exclusion from the scope of the contractual obligation in this paragraph does not
authorize conduct that is a misappropriation of Proprietary Information, unfair
competition or other wrongful act.

Thank you