toggle

AAPL Stock: 112.45 ( -0.2 )

Printed from http://www.macnn.com

Ex-Apple worker sues over Jobs' promise of job security

updated 10:14 am EDT, Tue August 21, 2012

Apple allegedly citing 'business reasons' for firing

A former Apple worker -- Wayne Goodrich -- is suing the company over breach of contract and unfair business practices, claiming Apple co-founder Steve Jobs promised him he would always have a job, Bloomberg reports. In a complaint filed with the California state court in San Jose, Goodrich says he was fired in December for what Apple said were "business reasons" unrelated to his performance. Goodrich describes himself as a confidant and close adviser to Jobs, and someone who worked under him from 1998 until Jobs' retirement and death in late 2011.

The cornerstone of the lawsuit is a one-on-one meeting in May 2005, in which Jobs allegedly told Goodrich that he would always have a job at Apple. The meeting took place not long after Jobs had returned from his first medical leave for pancreatic cancer. "This express promise by Steve Jobs was consistent with a practice that Steve Jobs had, acting on behalf of defendant Apple, of promising job security to certain key employees who worked directly with him for many years," the complaint reads. Goodrich says he received raises and bonuses every year, and that in 2010 Jobs even promised that he would get another job at Apple if something happened to his position and Jobs wasn't around.

Goodrich is seeking damages for lost wages, benefits, and restricted stock units, as well as emotional distress. The lawsuit alleges, in fact, that the stock is the real reason he was fired. Each share was worth $97.40 when it was issued in 2008, but several times that amount in 2011, and Apple may have wanted to avoid paying out the stock.

The complaint elaborates that while at Apple, Goodrich was the executive producer for the company's public presentations, including all of its product releases, and helped to develop them alongside Jobs. He also takes credit for introducing his colleagues to Siri, noting that he was the first person at Apple to meet with the managers of the technology's developer. Apple would eventually buy out the firm and build Siri into iOS.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

  1. Jeronimo2000

    Forum Regular

    Joined: 08-20-01

    Ah well, and Jobs promised me a toilet made of solid gold. Did I ever get one? No. Am I suing? No.

    As long as the guy doesn't have anything in writing, he'd better shut the heII up. Cheap shot, now that SJ is dead. Pretty convenient.

  1. macshome

    Fresh-Faced Recruit

    Joined: 02-11-02

    This guy doesn't seem to understand how stock grants work.

    If your company gives you a grant they are giving you the stock right then, but it only becomes available for you to sell over time.

    With stock options it's the same, but there is a strike price that serves as the purchase price for those shares.

    When you sell shares later it costs the company that granted them nothing. You aren't selling them back, you are selling them to another buyer in the market. The company was out of the deal the day that the stock was granted.

  1. coffeetime

    Mac Enthusiast

    Joined: 11-15-06

    Goodrich says he received raises and bonuses every year

    Wow. I wish I can have that. All my problems will be solved.

  1. lamewing

    Dedicated MacNNer

    Joined: 08-04-04

    Originally Posted by Jeronimo2000View Post

    Ah well, and Jobs promised me a toilet made of solid gold. Did I ever get one? No. Am I suing? No.

    As long as the guy doesn't have anything in writing, he'd better shut the heII up. Cheap shot, now that SJ is dead. Pretty convenient.



    You don't have to be a dick about it.

  1. blahblahbber

    Banned

    Joined: 02-01-05

    Originally Posted by Jeronimo2000View Post

    Ah well, and Jobs promised me a toilet made of solid gold. Did I ever get one? No. Am I suing? No.
    As long as the guy doesn't have anything in writing, he'd better shut the heII up. Cheap shot, now that SJ is dead. Pretty convenient.

    Hmmm. You slobbin' on jobs nob? Get off his old dead sac!

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Most Read

MacNN Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lackin ...

toggle

Most Commented