Anyone know if a firm can revoke a bonus payment once it has hit your bank account already?
About to leave to competitor and paranoid about repercussions as I will be royally screwing my team over.
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No, they cant but I would read your contract a million times to see if you missed the clause that says they can ream you if you do something like this.
You haven't specified if your contract requires you to repay bonus money if you leave the firm before X date. Or are you just paranoid they can reverse a payment to your account for a bonus that is rightfully yours? I wouldn't worry at all about the latter. I don't know of any means of reversing a paycheck, nor can I imagine a reputable firm attempting this, no matter how pissed your team is.
If you're contractually required to pay back some or all of your bonus (as mentioned above, READ your contract and/or your employee handbook), there's still a question of what your firm is willing to do to enforce that. Some may not pursue it at all, some might send letters demanding payment but not pursue it further if you refuse, while others could try to take you to court. Ultimately that's up to your firm's cost/benefit analysis - but it never hurts to leave on the best possible terms.
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