Notice period extended

Court of Appeal’s decision entitles employee to participate in company’s initial public offering
|Canadian Employment Law Today

Goldman Sachs employed Bruce Gillies as a fixed-income security salesperson for more than four and half years. Mr. Gillies went to work with Goldman Sachs after being recruited away from another firm with whom he had been steadily employed for 13 years. When he was hired he was told that he would be a candidate for a sales manager position and that there was security of tenure at Goldman Sachs. Initially Mr. Gillies worked at Goldman Sachs’ Toronto location.

In 1996 Mr. Gillies was offered a position by another firm in Vancouver. Mr. Gillies decided to accept this position and offered his letter of resignation to Goldman Sachs. This prompted Goldman Sachs to offer him a position in its Vancouver office where the volume of institutional fixed-income business was not great and there was already another salesman who would continue in the lead position. Mr. Gillies accepted this transfer and moved to Vancouver continuing his employment with Goldman Sachs.

On April 22, 1998, Mr. Gillies was informed that Goldman Sachs was being reorganized and his employment would be ending. On April 29, 1998, Mr. Gillies received a letter of termination to be effective June 30, 1998.