My fiance wants to transfer to a different department at the resort he works at. His boss is telling him he can transfer, but she will cut his pay and take away is Employee Stock Option Plan (ESOP.)
Is any of this legal?
He wants to transfer to get away from his ravenous ***** boss, and she will cut his pay and take his ESOP away to spite him.
Slickterp
Favorite Answer
They can cut his pay for any reason they want, right down to minimum wage, and there is no entitlement to a stock option plan. They could take away his stock options plan at any time they want.
jobbend
In general the answer is that an employer can do whatever they want. Raises, cut in pay, hire, fire, transfer - whatever they want.
But because labor laws are different depending on what country/province/state he works in he would need to check the regulations in his specific location.
One thing to note: Employees typically are "classed". And all employees of a class must be treated the same way regarding to many things, including benefits. And ESOP is a benefit. So if he is classed and all employees of that class have ESOP and he is moving to another position in that same class, that could be a problem for the employer. If he is changing to a different class that isn't eligible for benefits, then it's very likely legal, and reality.
Linda R
An employer can do anything they want to do. It sounds like the position, he is transferring to, does not pay as much and does not qualify for the ESOP.
sleepless_in_ny2000
My soon to be boss was willing to take me at current salary and they do get esop, 5 of 7 yrs vested already
?
This is just another example of how bosses really don't care about their hard working employees. It seems now-adays that people's jobs mean absolutely nothing to employers. The boss gets all the power while the employee gets the short end of the stick.