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In this installment of our Employee Benefits and Executive Compensation Considerations in Mergers and Acquisitions podcast series, Troutman Pepper Partners Joshua Gelfand and Michael Crumbock discuss current executive...more
In early 2023, the National Labor Relations Board’s (NLRB or “Board”) decision in McLaren Macomb, 372 NLRB 58, revoked employers’ ability to require their employees to keep the terms of severance packages confidential and to...more
On December 19, 2023, Institutional Shareholder Services Inc. (“ISS”) released its updates to its Proxy Voting Guidelines. Somewhat unusually, ISS made only one change to its voting recommendation policies for U.S. public...more
As summer turns to fall, the employee benefits landscape continues to evolve. A few of our thoughts on recent updates are below. Also be on the lookout over the coming weeks for a separate guide to SECURE 2.0 provisions that...more
Canadian employers should review their employment contracts and update them as necessary to avoid potentially costly problems upon separation of employment. Since early 2021 when the Supreme Court of Canada declined to...more
A recent Seventh Circuit decision affirms the principle that an ERISA severance plan can reserve to the employer discretion over who is eligible for severance benefits. The case is Carlson v. Northrop Grumman Severance Plan,...more
With a weakening economy, many employers are now facing tough cost reduction decisions, which include possible separation of employees. Once it is decided to implement a reduction in force, the employer must make a further...more
Two months ago, the National Labor Relations Board (the Board) changed the rules for confidentiality and non-disparagement clauses in severance agreements. In McLaren Macomb, 372 NLRB No. 58 (2023), which we previously wrote...more
If your company, like many, includes “standard” confidentiality and non-disparagement provisions in its employee severance agreements, those agreements may contravene a recent NLRB decision, McLaren Macomb. In that matter,...more
On February 21, the National Labor Relations Board (NLRB) issued an opinion with significant implications for confidentiality and non-disparagement provisions in employers’ severance and release agreements with departing...more
In a reversal of Trump-era National Labor Relations Board (the “Board”) precedent, the Board found last week in McLaren Macomb that non-disparagement and confidentiality provisions in a severance agreement violate the...more
On February 21, 2023, the National Labor Relations Board (the Board) issued a decision that reversed the precedent established during the Trump administration and held that severance agreements that include non-disparagement...more
This week, the National Labor Relations Board (NLRB or “Board”) issued a decision that could significantly shape the terms of severance agreements with departing employees. Under this decision, all employers are prohibited...more
Two cents from an employment lawyer. My colleague David Phippen wrote an excellent bulletin about this week's McLaren Macomb decision from the National Labor Relations Board, in which the Board ruled that offering...more
In a return to pre-Trump era precedent, the National Labor Relations Board (“NLRB”) has determined that employers violate federal labor law if they offer severance agreements prohibiting employees from making disparaging...more
On February 21, 2023, the National Labor Relations Board (NLRB) ruled that employers covered by the National Labor Relations Act violate Section 8(a)(1) of the Act by merely offering certain confidentiality and...more
As part of the well-publicized reductions in force taking place at Twitter, former employees and their advocates have heavily criticized the severance packages the company offered. In many cases, those offers were limited to...more
Reductions in force (RIFs) are making headlines as companies trim their worker ranks in the face of a weakening economy. Employers must decide whether to implement voluntary or involuntary RIFs (or both); the considerations...more
A frequently used step to control costs in times of uncertainty is to reduce personnel. A well-planned restructuring or reduction in force, generally referred to as a “layoff,” can achieve meaningful cost reductions...more
If employees are required to provide proof of COVID-19 vaccination or a timely negative COVID-19 test, and/or wear a mask as a condition of employment (COVID-19 Policies), and an employee is terminated for violating a...more
A Divisional Court in Ontario, Canada recently issued a ruling that could have significant potential extra-jurisdictional consequences for U.S. employers with even a single employee based in Canada. The court’s June 15...more
A recent decision by the Delaware Chancery Court in the clawback litigation between McDonald’s Corporation and its former CEO highlights the meaning and impact of a common contractual provision: the “integration clause.” Such...more
In Andrews v. Williams WPC-I, LLC et al., 4:19-cv-02200 (M.D. Penn. July 16, 2020), the U.S. District Court for the Middle District of Pennsylvania held that a severance package can be an adverse action under the federal Age...more
For decades, severance agreements have been a staple of the employment relationship, inhering to the benefit of employers and employees alike. Through their use, employers are able to obtain peace of mind against future...more
An unfortunate byproduct of the COVID-19 pandemic is terminations. Many employers who have the resources provide a cushion in the form of severance pay. It is prudent to seek a release of claims in exchange for the payment...more