ContractsProf Blog

Editor: D. A. Jeremy Telman
Valparaiso Univ. Law School

A Member of the Law Professor Blogs Network

Sunday, April 20, 2008

Bear Market for Job Seekers

The New York Times reports that JP Morgan has notified new Bear Stearns hires that they will not be needed.  But the unemployed recruits can still keep what the Times calls a consolation prize -- they can keep their signing bonuses if they sign contracts in which they agree not to sue JP Morgan over their lost jobs.  The bonuses range from $10,000 for college seniors to $50,000 for newly-minted MBAs.  According to the Times, the students were paid these signing bonuses last fall, and JP Morgan is threatening to demand their return if the students refuse to sign the new contracts. 

[Jeremy Telman]

http://lawprofessors.typepad.com/contractsprof_blog/2008/04/bear-market-for.html

In the News, Labor Contracts | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef00e5520627728834

Listed below are links to weblogs that reference Bear Market for Job Seekers:

Comments

Post a comment