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job contract

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1 job contract on Mon Jun 01, 2015 8:46 am

jopok_69


Arresto Menor
good morning sirs,,a division/department of our company is sold,the regular employees affected by the sale have the following options:
*tranfer to the remaining department ,enjoy existing benefits as per CBA
*be paid 200% of monthly salary times year of service plus a 2 year CONTRACT to the new owner/new company
my questions are:
even though they say that there is a 2 year contract,can the new owner/company rescind or cut the contract,anytime?
if and when indeed the contract is cut,is the company liable for breach of contract?
all the benefits should be stipulated on the contract?increase if any,because according to the new owner,all the benefits of are CBA will be enjoyed by those who wished to transfer to the new company

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2 Re: job contract on Mon Jun 01, 2015 9:35 am

council


Reclusion Perpetua
jopok_69 wrote:good morning sirs,,a division/department of our company is sold,the regular employees affected by the sale have the following options:
*tranfer to the remaining department ,enjoy existing benefits as per CBA
*be paid 200% of monthly salary times year of service plus a 2 year CONTRACT to the new owner/new company
my questions are:
even though they say that there is a 2 year contract,can the new owner/company rescind or cut the contract,anytime?
if and when indeed the contract is cut,is the company liable for breach of contract?
all the benefits should be stipulated on the contract?increase if any,because according to the new owner,all the benefits of are CBA  will be enjoyed by those who wished to transfer to the new company

Have to read the contract first - but generally they cannot rescind the contract except for valid reasons, which may cause them to give separation pay.

Breach of contract only if there is malice (and maybe some other factors). Retrenchment/redundancy and sale of the company (again) would not be a breach.

Standard contract clauses should be included in the new document, which may or may not be the same as the previous company.

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3 Re: job contract on Sun Jul 12, 2015 5:56 pm

jopok_69


Arresto Menor
thanks for the reply..we have a copy of LOI that enumerates everything and an FAQ from the management that categorically states our status on the new company

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4 Re: job contract Today at 4:49 pm

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