Rumor has it, there will be a bankruptcy / restructuring soon.
If you took a moving package and your group is sold off, do you owe the company the money back if you go work for another company?
Have any business units been shut down and not sold off?
An Employee got fired at my location and it was within a year of his relocation package and Weatherford in fact took what he owed from his last check. So yes, they will get their money back if it's within a year.
Weatherford will always take care of it's top-heavy employees first and the ones that actually earn the real solid capital 2nd for that loser of a company. I know quite well that weatherford will leave you high and dry( unless of course you are with H.RI will celebrate when weatherford goes upside down. I t will be bound to occur. They cannot use their well know creative accounting again, that got them so much fame over seas(aye Frenchie?) If possible find a position with an honest, employee friendly service company' Run fast and do not look back.
Who cares! Just turnaround and declare bankruptcy yourself and put Weatherford in the same position they put all of their investors/creditors!
Can concur see an employment lawyer in your designated demographic this will help with any items your not sure of with your contract . Most contracts need a lawyers feedback in most cases when dismissal is questionable .
If you are laid of by WFT, I seriously doubt that they can come after you for relo costs. If they try, check with an employment lawyer before signing anything.
Being acquired is good. If the acquiring company is savvy they are going take the key people along with the assets leaving WFT to do the dirty on the people they don't want. On the other hand if they are a new player, they will take people and assets and take some time to figure out what they have... they will then consolidate and lay off the excess... with terms that can be no worse than WFT currently has
So the contract has the claw-back provision for 24 months. However, it doesn't say anything about acquisitions and I don't know much about how it works when one company buys another one. Do all the standing contracts stay the same or are they renegotiated under the new company.
Just one of the reasons I chose to decline the moving package offered. I feel really bad for the folks who have taken the packages, uprooted their families, sold houses, and all the other things associated with a relocation. Hopefully, they remain employed somehow or are able to find jobs close to their new homes in their new cities. I am pretty sure the company will pass the costs on to the employee if they can. Hopefully folks saved some of the relocation money.
Generally there is a claw back provision if you quit within a certain time period of the move.
On the other hand there is sometimes a relo back if you are involuntary terminated not for cause
Read your contract.