The company I work for moved me to Illinois 16 months ago. In return, I signed an agreement stating I would pay back relocation if I left within 2 years. Moreover, all monies have to be paid back within 1 month of my leave date. I made a BIG mistake and didn't read the fine print. It turns out I have to pay back EVERYTHING if I leave before the two year period. This job has been awfull and it's to the point that it starting to make me physically ill. I can't afford to pay back the money because the salary is not comensurate with cost of living expenses and I have wracked up a bunch of debt just by trying to keep a roof over my head and gas in the car. I approached HR about my concerns which has only caused more friction between myself and management. I feel so trapped. Is there any way I can get out of the contract?
2006-08-20 07:25:10 · 6 answers · asked by Smashing D 2 in Business & Finance ➔ Careers & Employment
To clarify:
1) I was working for another company (in Iowa) prior to accepting this job. Part of the recruitering enticement to "lure" me away (boy...was that a mistake!) to the new company was the relocation package.
2) The relocation is not prorated! As I said before, more fool me for not reading the fine print, simply because I assumed it would be prorated!
3) If I leave or am fired for just cause (can;t any company find a reason to fire someone if they want them gone?), yes I have to pay everything back.
4) A scary thought...can they fire me with no warning or chance to improve an issue right before my commitment is up and still make me pay back all the original relocation costs?
2006-08-20 08:28:07 · update #1
Mild meds? I think I'm going to need something much stonger to get through these next eight months! A smart company would recognize that the low morale has very negative connotations and let the person move on, or at least offer to prorate the expenses. And people wonder why the sales of sawn of shotguns keep escalating (ok...bad joke)
2006-08-20 08:34:22 · update #2
The contract is just that .. a contract.... You have to fulfill your part of the obligation or you will have to pay. Unfortunate as it may be.
I was under the same problem .. restricted from leaving a company that I was unhappy with because I signed a relocation contract.
You are going to have to stick it out for the 8 more months ... Just think of it this way .. in 4 months, you are half way there .. and then 2 months later . you will only have 2 months to go.
If you are very skilled and 'in demand' than I would go ahead and start looking for a new job now ... You may be able to find a company that wants you so bad that you are able to negotiate with them for a 'hiring bonus' that will pay your costs for the former relocation. Be up front with your new prospective employer and tell them that you are under a contract. Explain to them that you would very much like to join them, but you wouldn't be able to unless they could help you with this burden.
If nothing else .. you may also find out that it is tougher to find a job than you thought .. which will in turn make you appreciate your current job more.
Otherwise, stick it out ..it's only 8 months ... that time will fly by.
I know it is expensive in Illinois is you are in Chicago .. I used to work there also and was under a similar contract that I wanted out of ...
Best of luck.
2006-08-20 08:02:47 · answer #1 · answered by ValleyR 7 · 0⤊ 0⤋
Relocation Contract
2016-11-01 01:43:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
This sounds fishy to me...usually if a company initiates a relocation, it can't make you sign to repay if you leave the position. Before you shell out $1500 for a lawyer, search the Department of Labor's website and try to find out more about the documnet you signed. Search for key terms.
I relocated across the country with my company, but I requested it and was excited about going. Signing a similar form was no problem for me, but mine only lasted one year.
Also, is the repayment "in full" or is it pro-rated? I would think it would be pro-rated, so if you left with a couple of months left you'd owe 2/24ths of the sum. But I'm guessing here.
Also, would you be able to transfer within the company at the same location? I did that, and by staying at the same site I did not have to pay anything. Any change helps if you're miserable!
Other than that, you might try getting some mild meds for the next eight months. Also, if they lay you off, do you still have to pay? That would be scary.
2006-08-20 08:21:23 · answer #3 · answered by n0witrytobeamused 6 · 0⤊ 0⤋
If you sign a contract and the Company move from one location to another, I would consider the Contract Void, Your expenses is going to grow so their is no way you can cope with the same salary they are paying you, I would not worry about it, if you are see a lawyer,
2006-08-20 07:56:03 · answer #4 · answered by boy_jam_arch 6 · 0⤊ 1⤋
The only thing I can think of is to take the contract to lawyer and see what he says. Needless to say,. it is never wise to sign a contract without talking to a lawyer first. This is going to cost you a few more bucks.
2006-08-20 07:35:20 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Unfortunately, since you signed the contract there is no legal way you can get out....perhaps sympathy might work instead....
2006-08-20 07:32:23 · answer #6 · answered by Turak 3 · 0⤊ 0⤋