Many outsourcing giants have 1 year bond. (E.g. TCS and Wipro) and if you break it you've to pay the company some amount.
Also if you resign and don't want to serve the notice period, you can 'buy' your way out.
Also if you resign and don't want to serve the notice period, you can 'buy' your way out.
Also, in many many fields less meritocratic than software, you typically gain privileges as you accrue seniority with little regard to experience or actual contribution.
It's extremely common in union contracts.
More conservative employment laws would mean less employment rights for workers.
Less liberal in the UK would be the fringe torys who want to get rid of all employment protection.
Coming to giving a 3 month notice before firing some one, firstly when they ask you to leave they may not necessarily tell you that they are firing you for some socially acceptable reason like cost cutting. Instead they will give you two options, get fired for some fictional violation of company code or you can put in your resignation.
The choice is obvious, the person resigns, while he is actually fired. The quarterly results project this as attrition.
Having said this, the last I have heard about this bonds is that they are not valid in the court of law.
Probably not. But what will you when they decide to not pay your final paycheck since you did not pay for breaking the bond. Heck, in some countries like HK again, you need to get tax clearance from your employer before you leave permanently, if you do. So the question is: do you just bite the bullet or go fight with the corporate giants regardless of who could win.