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Mike Bloomberg said he’ll release ex-employees from NDAs. Here’s why you should think twice before signing one

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Former New York mayor Mike Bloomberg vowed Friday to release female former employees from nondisclosure agreements, days after Sen. Elizabeth Warren of Massachusetts hammered him on hush agreements at the Democratic presidential debate in Las Vegas.

The billionaire said in a statement that his namesake company had identified three NDAs signed with women over more than three decades “to address complaints about comments they said I had made.” Those women would be released from the confidentiality agreements if they contacted the company, he said.

“I’ve done a lot of reflecting on this issue over the past few days and I’ve decided that for as long as I’m running the company, we won’t offer confidentiality agreements to resolve claims of sexual harassment or misconduct going forward,” Bloomberg said.

“I recognize that NDAs, particularly when they are used in the context of sexual harassment and sexual assault, promote a culture of silence in the workplace and contribute to a culture of women not feeling safe or supported,” he added. “It is imperative that when problems occur,…



Source marketwatch.com

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