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spoil_of_the_cities t1_javzlwq wrote

For friends in finance, though I don't think any have been JPMC specifically, the actuality of this sort of thing has been a six month paid vacation between jobs

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fattythrow2020 t1_jawpcyo wrote

It’s called garden leave and it’s been a thing since forever

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[deleted] t1_jaw4key wrote

[deleted]

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spoil_of_the_cities t1_jaw7m5m wrote

My friends who've gotten this have called it non-compete. Definitely not severance, you can take another job once you've got severance. My friends were getting paid to not work for a few months until their current knowledge of the business was not current anymore.

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Badweightlifter t1_jawbvhs wrote

That's called Garden Leave.

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rootbeer_racinette t1_jawlerv wrote

Garden leave is a paid non-compete. There's no legal contract called "Garden Leave" and the non-compete wouldn't be enforceable in most states without pay.

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ownageboard t1_jaw8c2a wrote

No a lot of people have “gardening leave” and it is not waived as it’s there to prevent you from divulging existing transactions details to competitors before the transaction is completr

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leg_day t1_jawaxgk wrote

*Garden leave.

Though, I suppose, you could spend the time gardening.

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elev57 t1_jawels3 wrote

It's either. More common in the UK to call it "gardening leave" than in the US.

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