A new law that took effect on January 1st, California Assembly Bill 692 (“AB 692”), significantly limits employers’ ability to require repayment of bonus, training, relocation and other retention-linked incentives upon a worker’s termination of employment. Employers with workers located in California should review and update their forms of offer letters, employment agreements, and any other documents that may include repayment obligations for
On March 10, 2023, financial markets were rocked by uncertainty over the future of certain significant financial institutions. Among other concerns, bank failures raise the prospect of temporary or long-term cash flow problems for account holders, as deposits totaling more than $250,000 exceed the amount covered by the Federal Deposit Insurance Corporation. Often, companies’ largest financial commitments are their payroll obligations to employees, including their
A California court has ruled that an arbitrator (not a judge) should decide on the applicability of California Labor Code Section 925 to a dispute between a law firm partner and his former law firm. Zhang v. Superior Court, 2022 WL 16832570 (Cal. Ct. App. 2022). This ruling potentially undermines the protections of Labor Code Section 925, which permits an employee to