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 Buyout but old company rejecting

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TSHumbleBF
post Jun 25 2024, 04:44 PM, updated 2y ago

On my way
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501 posts

Joined: Apr 2020

Hi guys, so my new company agrees to buy out me for example 2 months

However, my current company says that the standard practice of short notice is only 1 month...is that possible? What strategy would you use to start in the new company asap?

1. Just agree both side, proceed start in new. And M.i.a in old since you leaving anyways.

2. Talk to new informing potential delay in starting date.

3. Inform new that old is not ok with me early leaving , however, I'm able to start irregardless, if that is ok with your company.

Clause in old is roughly:

Payment in lieu is subject to management approval, however the company is able to provide garden leave to the employee at the management agreements.

Somewhere along the above.

Let me know your thoughts, these are still processing in my head now.
jamesteoh8177
post Jun 25 2024, 04:49 PM

Casual
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Junior Member
486 posts

Joined: May 2009


u joined ur old company with a good image, you should leave with a good image.
it will show to ur new company that you have good work ethics.
DarkAeon
post Jun 26 2024, 10:36 AM

Enthusiast
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Senior Member
774 posts

Joined: Nov 2010


it's not something your old company can reject

the situation is simple, u r telling them u r not gonna serve the notice period. and in the contract, u need to pay in lieu if you are not serving notice. and that's what the buyout is. paying u out so that u don't serve the notice period

the best way is to negotiate a timeline everyone can agree with. try not to burn bridges bcoz u will never know when u need it
WaCKy-Angel
post Jun 26 2024, 10:45 AM

PeACe~~
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Joined: Dec 2004
From: KL



Usually company will not reject buyout unless u have unfinished business eg handover or unfinished projects.

Sit with ur HR ask them why they reject and what is their intention.

Afterall u can just goto office to sleep there it would just be wasting their time as well.
SUSEX Unseen Forces
post Jun 28 2024, 04:39 PM

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Joined: May 2022

I do not think your old company will reject it. That's standard practice.

 

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