SG Talk

Retrenched Lazada employees are questioning non-compete clauses and the clawback of shares after the recent layoffs.

https://cna.asia/4aRaQB3

Wah....the board of directors laughing to the banks with all the shares?

like that can bang together and sue lazada for the shares

infact can just call police to catch the manager...this is 'stealing'

I think that for resignations, I can understand the exercising of non-compete clauses. But for retrenchments, the non-compete clauses should not be exercised.

I fire u.
You become jobless but cannot join other companies in same industry.

That is a really potential clause but is it even legal. It violate ability of people to earn a living with their skills.

what was provided for the non compete clauses? nothing? then is it fair for a standard clause that is dictated by one side.

James Dong, new CEO

came from other competitors but does not allow employees to work elsewhere?

Go to TAFEP and sue him, lah


https://www.techinasia.com/lazada-replac...-group-ceo

If they were retrenched, this non-compete clause should not apply. MOM should be able to solve these easily. The clawback clause is a problem. For the first time, I came across the clawback clause for a bank loan after the lock-in period of 2 years. This ends up you are supposed to remain with the same bank for a renewed loan with a higher interest rate.

I am in IT line. Many years ago young startup also promise you stocks but lower salary to seduce you. I am not interested I only want cold hard cash. Now 20+ years later same proposition I same answer show me the monies even if the stocks is from say Apple, Amazon, Google, Microsoft, Nvidia.

(12-01-2024, 03:57 PM)sgbuffett Wrote: [ -> ]I fire u.
You become jobless but cannot join other companies in same industry.

That is a really potential clause but is it even legal. It violate ability of people to earn a living with their skills.

Hard true...😡😡😡

Some company also that when you resign or inclusive in the hiring contract.

(12-01-2024, 09:16 PM)sgh Wrote: [ -> ]I am in IT line. Many years ago young startup also promise you stocks but lower salary to seduce you. I am not interested I only want cold hard cash. Now 20+ years later same proposition I same answer show me the monies even if the stocks is from say Apple, Amazon, Google, Microsoft, Nvidia.

"RSUs clawed back because they went to work for a competitor."
It is not uncommon but 
one should think properly about shares offer from company that is not easily trade or if market is known already over valued significantly.

They signed the employment contracts blindly without asking difficult questions? So now they blamed the company for treating them badly.

In real world, companies are not charity organisations. It is all about gain and profit. They can fire you when they deem necessary.
They can don’t compensate you if the company says it has no $$$.
Luckily I never join Union. I know they are JLBs. Matters are done in closed door.

This is why I have already proposed earlier.
Ban company from hiring for at least 1 year who done abrupt retrenchment. Remove most of incentives from the company given by the govt.