Evaluating a Buyout Offer From Your Employer
With the news of GM offering buyouts to as many as 141,000 of it’s employees, U.S. News and World Report has a very timely article, Seven tips for evaluating a buyout offer. It’s a concise article with lots of great information in it. Whatever your decision might be, Tip #6 seems especially important.
Find out exactly what you’re signing. “Make sure that you have an attorney review the agreement with you, and make sure that you’re not releasing important legal rights,” says Patrick J. Boyd, partner and founder of the Boyd Law Group in New York. Employees are often asked to release virtually every right they have to sue the company for discrimination, back wages, overtime, and commissions, Boyd says.
If you’re facing a buyout offer, you owe it to yourself to read this article. Best of luck with your decision.
